When Will Yes Bank Share Price Hit Rs 35 to Rs 40?
Dear readers, if I am talking about Yes Bank then I can say that Yes Bank is a “handicapped horse,” and every day’s news causes a downward trend in its stock price. As of the latest updates, Yes Bank is slowly recovering, especially after the Madhu Kapoor family withdrew a case against the bank. Here, we delve into the factors affecting the stock price and when it might reach Rs 35 to Rs 40 per share.
Current Status and Future Outlook
Even though Yes Bank is expected to cross the Rs 35 level by June 30, 2020, its journey to reach Rs 40 is still anticipated to take at least one to two months. With its current safety and good financial data, Yes Bank is largely in safer hands. Some might argue that Yes Bank is more akin to a public sector bank given the majority holding by PSU Banks and its ex-SBI banker CEO.
Long-Term Investment Advantages
For those with a long-term perspective, investing in Yes Bank now could potentially double your money in a two-year horizon. The share price has already seen a rise today, and once it breaks the Rs 35 level, it may climb to as high as Rs 40. However, the path to these levels is not without its challenges. The current market sentiment, influenced by recent developments, positions Yes Bank as a viable investment option for the long run.
Technical Analysis Insight
The technical analysis of Yes Bank shares reveals a bearish pin-bar formation on the chart. Despite some good sentiments indicating a potential upward movement, the price correction has not yet been completed. Therefore, it's advisable to avoid holding onto Yes Bank shares for the short term. For those who wish to adopt an intraday strategy, there are some strong support levels at Rs 73, from which the stock has not yet broken.
Should the stock break below the Rs 73 support, there is a possibility that it could reach a low of Rs 61. For those interested in safe market investment and continuous profit, we invite you to connect with our market experts. Our team of market specialists can guide you towards achieving your financial goals.
Stay updated and informed, as the stock market can be unpredictable but with the right approach and advice, you can navigate through it successfully.
Best Regards,
Nandita Iyer
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