YES Bank stock up 10% on SMBC deal buzz; time to buy, sell, hold?

Technical chart indicates that the bias at the YES Bank counter is likely to remain tepid as long as the stock trades below this particular resistance zone; here are the key levels to watch out for.

YES Bank shares surged to an intra-day high of ₹ 19.44 - up 9.6 per cent from its previous day's close, and its highest point in the last two months - on the back of a likely deal with Japan-based Sumitomo Mitsui Banking Corp (SMBC).  According to reports, the Japanese banking giant was in advanced talks to acquire a majority stake in YES Bank. Reports indicated that the Reserve Bank of India (RBI) has verbally assured SMBC to retain a majority stake in YES Bank.  A 51 per cent stake sale in YES Bank would give SMBC effective control, pending regulatory approvals. Also, the deal if completed would trigger a mandatory open offer for up to 26 per cent of the bank's equity. READ MORE CNBC TV18, however, has reported that report on YES Bank stake acquisition by Sumitomo is incorrect. No application has been filed before the RBI for approval. Meanwile, the Bombay Stock Exchange has asked YES Bank for clarification on the media reports.    Against this background, what should your strategy as an investor in the stock be - Should you buy, sell or hold YES Bank stock at current levels?  FOLLOW STOCK MARKET LATEST UPDATES TODAY LIVE 

Here's a technical guide, to help you plan your trading strategy.

YES Bank

  Current Price: ₹ 18.60  Upside Potential: 34.4%  Downside Risk: 13%  Support: ₹ 18.31; ₹ 17.85; ₹ 17.40  Resistance: ₹ 19.90; ₹ 20.40; ₹ 20.80  YES Bank stock has been a major laggard on the stock exchanges, the stock has broadly moved in the range of ₹ 11 - ₹25 in the last five years. At present levels, the stock is seen attempting to conquer its 100-day Simple Moving Average (100-DSMA) - a key medium-term indicator the stock has been languishing below since October 28, 2024.    As per the daily chart the overall bias for the stock is likely to remain tepid as long as the stock trades below its 200-DSMA, which stands at ₹ 20.40. Similarly, the weekly chart shows presence of a strong resistance zone between ₹ 19.90 - ₹ 20.80.  Only a break and sustained trade above these hurdles, can help revive the sentiment at the YES Bank counter. Post which, the stock can potentially re-visit the higher-end of the existing trading band around ₹ 25 levels.  On the other hand, its inability to sustain above the 100-DMA, which stands at ₹ 18.31, could drag the stock back to its support zone around ₹ 17.20 levels. Interim support for YES Bank stock can be anticipated around ₹ 17.85 and ₹ 17.40 levels. For now, the downside in the stock seems capped around ₹ 16.17 levels. CLICK HERE FOR THE CHART