Yes Bank : Does it become a Buy Now?

Yes Bank surges 14% to hit 52 week high of Rs. 20.40

All those with a patience for 5-10 years can buy this stock as a systematic investment plan.

Make money on daily basis using our Bank Nifty Option intraday tips as profit making is a habit which needs to be developed by daily capturing the profit however small it may be.

Check the yearly chart below:

Have a look at company performance below

It appears that this news can be a trigger for Yes Bank as stated below:

Corporate India has seen quite a few boardroom dramas. This time, the 16-month-long battle between Dish TV and Yes Bank is under the spotlight. In a nutshell, Yes Bank wants Dish TV’s board to be reconstituted. What do other shareholders want? More importantly, who will win this battle?

Yes Bank Ltd has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. The price has also broken through the ceiling at 18.71 of a rectangle pattern. A decisive break will signal a further rise to 24.90 or more. There is no resistance in the price chart and further rise is indicated.

In case of a negative reaction, the stock has support at approximately 17.80 rupee.

Volume has previously been high at price tops and low at price bottoms. 

Volume balance is also positive, which strengthens the trend. 

RSI above 70 shows that the stock has strong positive momentum in the short term.

Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price will continue to rise.

However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. 

The RSI curve shows a rising trend, which supports the positive trend. The stock is overall assessed as technically positive for the medium long term.

Yes Bank trading Strategy

All to buy Yes Bank in the range of 15 to 30 ( last closing price 19.70) in a staggered manner over a period of next three four months. For retail Investors... recommended amount is Rs 2 Lakhs. 

Your strict stoploss for the same would be Rs 10.10 

Three targets

1. Rs 69.90

2.Rs 80

3. Rs 100( this we will keep revising till 200 plus if things work out well) with trailing stoploss.

NRIs : Your total investment shouldn't exceed Rs 25L under any circumstances. 

Happy Trading!!

Lastly a word of caution and read below the liquidity which will be caused by locked shares in Mar 2023:

Update

YES BANK : Board Approved 

Allotment of a total of 369,61,55,702 equity shares of face value Rs. 2 /each and 255,97,61,818 share warrants convertible into equity shares of face value Rs. 2 /- each on a preferential basis to CA Basque Investments (Carlyle) and Verventa Holdings Limited

Post March, 2023, SBI stake in Yes Bank will come down to 24% from 30%: Prashant Kumar