YesBank…The attention seeker.

Yesbank is like a Rubik's cube for all traders nowadays, which is only getting more complicated day by day. Amid the ongoing fundamental news about the revival of Yesbank, there are many traders, including me, who have already invested or looking to invest in this stock.

In Dec 2022, according to the valid situation in that month, the promising figures for the projected target was Rs.33, followed by Rs.40 by Jan’23 month. The tables were turned by a sudden surge of COVID cases in China, then followed by other fundamental news about Yesbank, and then further negative sentiments due to higher inflation, the upcoming budget 2023.

On D-day, the price of the stock closed at Rs.16.90/-

Let us see where we stand and what we can see in the coming days with the binoculars of charts.

The lowest what I can see is Rs.16.25, only if it breaks the immediate and a strong support price of Rs.16.75

From here, there seems to be the inception of the long-waited rally. Only difference is the immediate targets. The latest projected targets are 17.35, 17.55, and 18.25. Nothing higher in this particular stock because of the complexity it carries both in terms of technical as well as fundamental aspect.

On a lighter note, this stock is not my favourite one and the only reason to pick this one is due to the rising popularity of this stock in the circle of technical analysis.