The relative strength index (RSI) for the market over the past 14 days was 48.85. A rating less than 30 is considered oversold, while one more than 70 is considered overbought. The stock of the company has a price-to-equity ratio (P/E) of 64.33. The price-to-book (P/B) ratio for this item is 1.13.
In the past year, YES Bank Ltd. shares have gone up by about 25%. Even so, the stock has dropped by almost 26% since the beginning of the year. Last time I looked, it was selling 0.06 percent higher at Rs 16.06. At this price, it was 35.11 percent less than its all-time high of Rs 24.75, which happened on December 14 of last year. But from its 52-week low of Rs 27.86 on July 1, 2022, it has gone up by 27.87%.
On the basis of how the stock was set up technically, most experts thought it looked “bearish.” At Rs 15.70, the counter could find support, and then at Rs 15, Rs 14.50, and Rs 14 as well.
According to Osho Krishan, Senior Analyst, Technical & Derivative Research at Angel One, “YES Bank is largely in a downtrend and is presently trading inside a narrow range on the daily charts, below the cluster of its key EMAs (Exponential Moving Averages). In terms of levels, the stock is expected to face pressure from the 200-SMA (Simple Moving Average), which is around Rs 17-odd, and then the bearish gap between Rs 18.60 and Rs 19.65 in the same time period. On the other hand, support is seen around Rs. 15–14.50. If this zone is broken, the price setup could be thrown off.”
AR Ramachandran from Tips2trades said, “The stock has strong resistance around Rs 16-16.70.” In the short term, a daily finish above this resistance could lead to a goal of Rs 19.80. Help will come in at Rs. 15.70.”
Ravi Singh, Vice-President and Head of Research at Share India, said, “The future for YES bank is still bleak because of the problems the bank is having. The stock may be bought at lower prices. But buyers should sell the stock now because there could be more corrections in the coming weeks, which could push the price down to Rs. 15.”
“YES Bank has strong support near Rs 14 levels,” said Vaibhav Kaushik, a Research Analyst at GCL Broking. So, “buy on dips” is suggested for a short-term goal of Rs 19.”
VLA Ambala, a Research Analyst at Stock Market Today, said, “YES Bank is moving at an important level of Rs 16, and right now it looks negative. So, for any new long options, it is best to wait until the price breaks out above its support. If you already own it, you should set a delayed stop loss at Rs. 14. ‘Targets would be between Rs 18 and Rs 22 if the price stays above Rs 16.50 (close base).
The relative strength index (RSI) for the market over the past 14 days was 48.85. A rating less than 30 is considered oversold, while one more than 70 is considered overbought. The stock of the company has a price-to-equity ratio (P/E) of 64.33. The price-to-book (P/B) ratio for this item is 1.13.
Also, the rating agency Moody’s kept its values on four of YES Bank’s instruments and gave the private lender a “stable” credit outlook. Moody’s kept YES Bank’s long-term foreign currency issuer rating at Ba3, long-term (local and foreign currency) deposit rating at Ba3, baseline credit assessment (BCA) and adjusted BCA at b1, and senior unsecured (Foreign Currency) medium-term note programme at (P)Ba3.
Moody’s said that as YES Bank’s savings grew, its funding and liquidity also got better. In the March quarter, the lender’s average cash coverage ratio went up from 115% in the same quarter last year to 119%.
