YES Bank shares rise 8% in a month; is more upside likely?

Shares of YES Bank Ltd rose 0.84 per cent on Tuesday to settle at Rs 20.35. At this closing level, the private lender's stock has climbed 8.42 per cent in the past one month.

Analysts remain divided on YES Bank for the short- to medium-term. While some highlight weak momentum and bearish signals with downside risks towards Rs 18.35, one of them suggests that a breakout above Rs 20.80 could open the way for gains up to Rs 24.50.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "YES Bank is lacking price momentum, making it avoidable from a medium- to short-term perspective. Only high-risk investors should continue holding the stock."

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, observed, "The stock faces a key resistance between Rs 20.50 and Rs 21.50, a zone that has repeatedly capped upside moves. While a cautious stance is prudent, support between Rs 19.40 and Rs 19 should cushion near-term declines."

According to Sebi-registered analyst AR Ramachandran, "YES Bank is bearish on daily charts, with strong resistance at Rs 20.54. A close below Rs 20 support could trigger a fall towards Rs 18.35 in the short term."

Kunal Kamble, Senior Technical Research Analyst at Bonanza, noted, "The stock is trading near its resistance. A breakout above Rs 20.80 would indicate renewed buying interest and trend reversal, with a potential move towards Rs 23.10–24.50. Traders can consider entering above Rs 20.80 with a stop loss at Rs 19.65."

The stock traded above the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 62.17. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a price-to-earnings (P/E) ratio of 23.66 against a price-to-book (P/B) value of 1.38. Earnings per share (EPS) stood at 0.86 with a return on equity (RoE) of 5.83. According to Trendlyne data, YES Bank has a one-year beta of 1, indicating average volatility.