Yes Bank Limited (YESBANK) Stock - Complete Technical Analysis - Sep 25, 2024

Yes Bank Stock Analysis: Bearish Indicators & Key Support Levels Revealed

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Welcome to our detailed technical analysis of Yes Bank Limited, currently trading at 22.8. The stock shows a P/E ratio of 50.6 and a book value of 14.3. With a dividend yield of 0.00%, the returns seem modest. Evaluating the efficiency ratios, we note an ROCE of 5.81% and an ROE of 3.09%, indicating challenges in profitability.

Analyzing the technical indicators, we observe a bearish sentiment with the Average Directional Index suggesting weak momentum, while the RSI is hovering around the lower threshold, indicating that the stock is nearing oversold conditions. The Stochastic readings are also low, reinforcing this sentiment. The MACD is negative, showing that downward pressure may persist in the short term.

In terms of moving averages, the stock is trading below most significant exponential and simple moving averages, signaling that a bearish trend is ongoing. The current price is approximately 30.62% below its 52-week high of 32.85, reached earlier this year, while being 45.16% above its 52-week low of 15.7.

Key support levels to watch are around 22.2, where the stock may find buying interest. Should it breach this level, the next support might be found near 20.79. Conversely, resistance is seen near the 23.1 level, which aligns with the 10-day EMA. If the stock can reclaim this level, we could see a potential rebound toward 24.14.

Overall, the technical landscape for Yes Bank indicates caution for traders, especially given the bearish indicators and resistance levels ahead. Keeping an eye on these critical levels will be essential for making informed trading decisions.