Stocks

YES Bank: Bears take charge again

Akhil Nallamuthu | Updated on September 19, 2019 Published on September 19, 2019

After recovering from a low of ₹55 at the beginning of the month and rallying to ₹72 levels, YES Bank has come under pressure once again. Over the past week, it reached a low of ₹61.7, before closing at ₹64.1 on Wednesday.

In today’s session, the stock has come under the bear grip again, as it tumbled to an intra-day low of ₹57.35. After starting the session at ₹64.5, it has lost 10.5 per cent so far today. It is currently hovering around a key level of ₹57.

If the stock price breaks below this level, it can further slump towards ₹55 levels, below which the support is at the psychological level of ₹50.

Supports: ₹55 and ₹50

Resistances: ₹60 and ₹64

 

 

 

 

Published on September 19, 2019
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