YES Bank shares deeply oversold, in a downtrend; analysts decode outlook 

Shares of YES Bank Ltd, among India's most tracked stocks by retail investors, are down 27% since October 15 this year. The Supreme Court dismissed appeals by the private lender, the central government and the RBI upholding the Bombay High Court's ruling that quashed the March 2020 write-down of the bank's Rs 8,415-crore Additional Tier 1 (AT1) bonds.

On October 14, the stock closed at Rs 21.21 on BSE. It fell to a 52-week low of Rs 15.53 in the current session, implying a loss of 27% for investors during the period.

The banking stock is deeply oversold on charts, with the RSI slipping to 17.5. This denotes the stock is under huge selling pressure. An RSI below 30 indicates a stock is oversold on charts.

In terms of technicals, YES Bank shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

YES Bank share price targets 

Technical analysts are cautious in their outlook for the lender.

Virat Jagad, Sr. Technical Research Analyst at Bonanza said, "YES Bank is witnessing a sharp breakdown below key support levels of Rs 17.28 and Rs 16.02, with heavy selling pressure and RSI near 17 indicating oversold momentum. The price is trading below all major EMAs, confirming a strong bearish trend. Avoid fresh buying; existing investors should consider reducing exposure, as further downside risk remains. A sustained recovery above Rs 16.02 is needed for initial stabilisation."

Sachin Gupta, VP – Research, Choice Broking said, "YES Bank continues to remain under selling pressure, with the stock closing lower for six consecutive weeks on the weekly chart. It has also breached multiple trendline supports, resulting in a sharp decline towards the crucial support zone of Rs 14.70– Rs 15. The weekly RSI is currently at 24.80, indicating deeply oversold conditions. This may lead to a short-term pullback, although the overall chart structure remains weak and there are no clear signs of a trend reversal yet.
As long as the stock sustains above Rs 14.70– Rs 15, a relief rally cannot be ruled out. However, a decisive break below Rs 14.70 could drag the stock further towards Rs 12.50. On the upside, the Rs 16.30–Rs 16.80 zone may act as an opportunity to exit existing positions on a pullback. Given the continued selling pressure, traders are advised to remain cautious and avoid expecting a sustained recovery until the chart shows signs of improvement."

Jigar S Patel from Anand Rathi is cautious on the outlook of the stock.

"YES Bank is currently trading in a broad range of Rs 15–18, indicating a lack of clear directional momentum. The immediate support is placed at Rs 14.50, which will be crucial to monitor in case of renewed selling pressure. On the upside, Rs 17.75 is an important resistance level, and a sustained close above this level could trigger a counter-trend recovery towards Rs 19. However, until the stock decisively breaks above Rs 17.75, the possibility of continued range-bound movement cannot be ruled out. A breakdown below Rs 14.50 may further weaken the technical structure. Therefore, the overall view remains cautious, and traders should wait for a decisive breakout or breakdown before taking a fresh directional position," said Patel.