NSE: YESBANK has seen a massive 24% up move surge in its price in the last 2 days. The stock which was once trading at price of ₹400 has now finally seen a turn around.
Today, February 7, Yes bank reached an upper circuit and closed about its previous resistance level of ₹29.
For a long time, a lot of retail traders were stuck in YES Bank. The banks improving numbers on paper, high traded volume are some of the reasons behind this bullish moment in YES Bank.
About NSE: YESBANK
YES Bank is a private sector bank founded in 2004 by Rana Kapoor and Ashok Kapur. Headquartered in Mumbai, it provides services like savings accounts, current accounts, loans, credit cards, mutual funds, insurance and more.
YES Bank has a presence across India with a network of branches and ATMs. It offers phone banking, internet banking and other digital services.
The bank has diversified shareholders including private equity investors, institutions and individuals.
Why YESBANK Share are rising ?
YES Bank’s share price has been rising due to its strong financial performance which has increased investors confidence. The bank has reported a steady growth in net profit for several consecutive quarters as compared to the same quarters previous years.
This indicates improving profitability for YES BANK. Along with higher profits, the Bank’s revenues have also grown steadily. This is evident from their increasing loan book and expanding operations.
Consistently increase in revenue and a solid profit growth have made YES Bank more attractive to investors. At the same time, the bank is seeing greater investment by foreign and domestic institutional investors who are encouraged by its specular performance.
Additionally, YES Bank’s promoters have not pledged any of their shares, signalling their confidence towards the company. One another reason behind the rise of YESBANK is RBI’s decision to allow HDFC to buy stake up to 9.5% in this bank.
In an earlier post, we talked about how RBI’s restriction on Paytm Payments Bank can help banks like YESBANK. With strong financials, increased investments by institutions and no share pledging, there is higher demand for YES Bank shares leading to the uptrend in its price.
Will the bullish move in YESBANK continue?
Looking at the chart of YESBANK, we can see the structure has now shifted to bullish. The stock is now making higher highs on daily timeframe. It has now broken its previous resistance of ₹24.35 and now this level will act as a strong support for YESBANK.
From the strong technical and improving fundamentals, it’s evident that the bullish move in YESBANK may continue for years to come.
YESBANK Swing trading forecast levels
Nse: YESBANK has seen a massive 24% up move surge in its price in the last 2 days. The stock which was once trading at price of ₹400 has now finally seen a turn around.
Today, February 7, Yes bank reached an upper circuit and closed about its previous resistance level of ₹29.
For a long time, a lot of retail traders were stuck in YES Bank. The banks improving numbers on paper, high traded volume are some of the reasons behind this bullish moment in YES Bank.
About NSE: YESBANK
YES Bank is a private sector bank founded in 2004 by Rana Kapoor and Ashok Kapur. Headquartered in Mumbai, it provides services like savings accounts, current accounts, loans, credit cards, mutual funds, insurance and more.
YES Bank has a presence across India with a network of branches and ATMs. It offers phone banking, internet banking and other digital services.
The bank has diversified shareholders including private equity investors, institutions and individuals.
Why YESBANK Share are rising ?
YES Bank’s share price has been rising due to its strong financial performance which has increased investors confidence. The bank has reported a steady growth in net profit for several consecutive quarters as compared to the same quarters previous years.
This indicates improving profitability for YES BANK. Along with higher profits, the Bank’s revenues have also grown steadily. This is evident from their increasing loan book and expanding operations.
Consistently increase in revenue and a solid profit growth have made YES Bank more attractive to investors. At the same time, the bank is seeing greater investment by foreign and domestic institutional investors who are encouraged by its specular performance.
Additionally, YES Bank’s promoters have not pledged any of their shares, signalling their confidence towards the company. One another reason behind the rise of YESBANK is RBI’s decision to allow HDFC to buy stake up to 9.5% in this bank.
In an earlier post, we talked about how RBI’s restriction on Paytm Payments Bank can help banks like YESBANK. With strong financials, increased investments by institutions and no share pledging, there is higher demand for YES Bank shares leading to the uptrend in its price.
Will the bullish move in YESBANK continue?
Looking at the chart of YESBANK, we can see the structure has now shifted to bullish. The stock is now making higher highs on daily timeframe. It has now broken its previous resistance of ₹24.35 and now this level will act as a strong support for YESBANK.
From the strong technical and improving fundamentals, it’s evident that the bullish move in YESBANK may continue for years to come.
YESBANK Swing trading forecast levels
| Forecast | Target Price (₹) |
|---|---|
| Forecast 1 | ₹31.90 |
| Forecast 2 | ₹32 |
| Forecast 3 | ₹35.10 |
| Forecast 4 | ₹38 |
| Forecast 5 | ₹41 |
Conclusion
As investors, its important to keep track of YESBANK fundamentals in check for long term investing. As per current situtaion, the bank looks good with fundamentals that keeps getting better along with strong technicals.
If the performance is conistence, shares of YESBANK can soon reach its previous highs of ₹403. Also check long term targets upto 2030 for Yes Bank.
