Stock market today: Yes Bank shares rebound after profit booking. Experts see 20% upside in short term
Stock market today: After profit booking trigger during Monday deals, Yes Bank share price today witnessed strong buying interest among stock market bulls. Yes Bank shares today opened with an upside gap at ₹20.30 per share levels on NSE and went on to hit intraday high of ₹20.45 apiece, regaining its 10-month higher levels, which it has climbed last week. According to stock market experts, Yes Bank shares are looking positive from both technical and fundamental perspective.
On technical chart, Yes Bank shares have breached 200 days exponential moving average (DEMA) for the first time in last four years, which signals sharp rebound from lower support levels. They said that Yes Bank has managed to improve its financials after 2018 crisis. They said that in last one fortnight, Yes Bank shares have bounced back twice after profit booking triggers, which signals bull trend to further continue.
They said that Yes Bank shares may go up to ₹25 once it breaches its immediate resistance placed at ₹22 levels. Also Read: Yes Bank shares hit 10-month high. Experts see potential multibagger in making On why Yes Bank share price bounced back twice in last one fortnight, Rakesh Bansal, Co-founder & Co-partner at Rakesh Bansal Ventures said, “After SBI took over the management of Yes Bank, the private lender has been improving its financials on consistent basis.
In its annual report, Yes Bank has reported 3.54 lakh crore total assets and 2.03 lakh crore total advances. It is number one in UPI payments and NEFT outward transactions. It governs 22.80 per cent market share in digital payments transaction volume in India." Rakesh Bansal said that on technial chart, Yes Bank shares are looking strong.
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