Yes Bank Share Price Jumps 7%: Key Resistance Levels to Watch

Summary:
• Yes Bank share price surges 7%, rebounding from key support at ₹19.22. Explore its technical analysis, resistance levels, and future outlook.

Yes Bank’s share price witnessed a 7% surge today, trading at ₹20.80 during the afternoon session, as bullish momentum builds. This comes after a recent downturn, with the stock finding support at the ₹19.22 level. The focus now shifts to whether this momentum can push the stock past crucial resistance levels.

Current Technical Outlook

On the daily chart, Yes Bank’s share price shows a strong rebound after bouncing off the support at ₹19.22. The stock’s recent uptrend aligns with positive market sentiment, potentially fueled by broader optimism in the banking sector.

The key technical levels to monitor include:

• Immediate Resistance: The next resistance is at ₹21.87, where a break above could signal further bullish momentum.
• Major Resistance: The ₹22.83 level is another critical barrier, which Yes Bank needs to clear to sustain its uptrend.
• Support Levels: On the downside, immediate support lies at ₹20.59, followed by the strong support at ₹19.22.

What’s Driving Yes Bank’s Share Price?

The bank’s efforts to improve asset quality and bolster its capital base are gradually enhancing investor confidence. Moreover, technical traders may view the bounce from ₹19.22 as a key reversal signal, driving short-term bullish activity.

Can Yes Bank Sustain the Momentum?

If Yes Bank manages to break the ₹21.87 resistance, the next target could be around ₹24.36, a significant level seen in previous trading cycles. However, failure to sustain above ₹20.80 could lead to a retest of the ₹20.59 support.

Final Thoughts

Yes Bank’s performance today indicates potential for further gains, but much depends on whether the stock can hold above current levels. Keep an eye on volume trends and broader market sentiment for clues on sustained upside movement.