Yes Bank Gains Support From SEBI RAs As Technical Base Firms; SMBC Deal Speculation Adds Tailwind

Analysts are optimistic about Yes Bank's prospects, with improving technical indicators suggesting potential for further gains.

Yes Bank shares are showing signs of a bullish reversal, according to SEBI-registered analysts Mayank Gupta and Kush Ghodasara, who cited key technical support and improving momentum amid speculation of a potential 51% stake acquisition by Japan’s Sumitomo Mitsui Banking Corporation (SMBC).

Gupta observed that the stock had built a solid base near ₹16 on the weekly chart and was currently retracing from the 1.618 Fibonacci extension level of its previous rally. 

He noted a bounce in the Relative Strength Index (RSI) from the 50 mark, indicating strengthening price action. 

On the daily chart, he pointed to the stock's ability to hold above its 100-day exponential moving average (EMA) as a signal of underlying bullishness.

Ghodasara added that Yes Bank shares had been range-bound but continued to find strong support around ₹17.60, in line with its 200-week moving average. 

He highlighted a positive crossover in weekly momentum indicators, suggesting accumulation and a possible long-term breakout. 

Ghodasara identified ₹21.90 as the next key resistance, with a move above this level potentially opening up room for a rally to ₹27. 

On the downside, he recommended a stop-loss at ₹17.40, near the 10-week moving average.

Both analysts maintained a bullish outlook, suggesting buy opportunities near ₹17.5–₹18 with targets of ₹22–₹25. 

Gupta set a downside risk limit at ₹16.

Investor sentiment has been further supported by media reports that SMBC is in talks to acquire a controlling stake in Yes Bank, a development that could significantly alter the bank's growth trajectory and capital position.

At the time of writing, Yes Bank shares were trading at ₹18.24, up 2.88% on the day, with retail sentiment on Stocktwits reading ‘bullish’ amid ‘low’ message volume.

Shares of Yes Bank have fallen 7.1% so far this year.

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