YES Bank shares dive 23% in a month; key technical levels to watch

Shares of YES Bank Ltd extended their fall for the third straight session in Wednesday's trade. The stock was last seen trading 6.13 per cent lower at Rs 21.43. At this price, it has tanked 23.05 per cent in the past one month. Despite the mentioned fall, the scrip has gained around 38 per cent in a year.

On the technical front, the counter largely looked 'weak' on daily charts. Immediate support could be seen at Rs 20.

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, said, "Support will be at Rs 20 and resistance at Rs 24. A decisive close above Rs 24 level may trigger a further upside till Rs 26. Expected trading range will be between Rs 18 and Rs 26 for a month."

AR Ramachandran from Tips2trades said, "YES Bank stock price looks bearish on daily charts with strong resistance at Rs 24.5. Near-term support will be at Rs 20."

DRS Finvest founder Ravi Singh said, "The stock looked weak on daily charts and may slip towards Rs 18 level. Resistance will be near Rs 25."

The counter traded lower than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs) but higher than the 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 33.46. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 65.56 against a price-to-book (P/B) value of 1.58. The private bank's earnings per share (EPS) stood at 0.35 with a return on equity of 2.42.

On BSE, around 3.47 crore shares were seen changing hands today. The figure was higher than the two-week average volume of 3.46 crore shares. Turnover on the counter came at Rs 76.51 crore, commanding a market capitalisation of Rs 62,048.46 crore.