Yes Bank Limited (YESBANK) Stock - Complete Technical Analysis - Nov 08, 2024

Yes Bank Technical Analysis: Key Support & Resistance Levels to Watch Trading Insights

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. Yes Bank Limited (YESBANK) is trading at 20.2, showing a mild decline in recent trading activity. The stock is well below its 52-week high of 32.85, and only 19.64% above its 52-week low. Over the past five days, the stock has shown price fluctuations with a bearish tone, as it closed lower than it opened in most of the days, signaling downward momentum. The stock's P/E ratio of 36.4 indicates that it is somewhat expensive compared to its earnings, which could be a concern for long-term investors.

In terms of technical indicators, the Average Directional Index (ADX) at 30.33 suggests a trend is present, but it's not particularly strong. The RSI at 39.09 indicates that the stock is approaching oversold levels, which could lead to a potential reversal, but this is still not an extreme level. The Stochastic RSI is signaling an overbought condition, which could lead to a short-term pullback. Additionally, the MACD remains negative, showing that the bearish momentum is still in play.

For traders, important support levels are at 19.45 and 18.89, with resistance at 22.25 and 24.09. The Average True Range (ATR) suggests that the stock could be volatile in the short term. With the stock below its short-term moving averages, it's advisable to monitor for any signs of a trend reversal. A break below support could push the price lower, while a rebound from current levels could lead to testing the resistance zones. Traders should stay alert to any price action near these key levels and adjust their positions accordingly.