Title: Yes Bank Share Price Surges Amid Speculation of New Promoter: Here’s What Experts Say

Yes Bank Share

Experts Analyze the Surge and Offer Insights

In today’s stock market, Yes Bank shares have captured attention with an upward trend since the early morning session. Opening at ₹20.95 apiece, the Yes Bank share price soon saw a significant rise, reaching a new intraday peak of ₹22.75 on NSE, marking an 8.5% increase during Thursday’s trading.

Speculation Fuels Rise

Experts attribute the surge in Yes Bank shares to speculative reports suggesting the private lender’s search for a new promoter to acquire up to 51% stake. Despite no official statement from the bank, speculative buzz has driven investor interest in Yes Bank stocks.

Sandeep Pandey, Founder of Basav Capital, underscores the speculative nature of the rise, cautioning against basing investment decisions solely on rumors. However, he notes that Yes Bank shares were in an oversold zone, having dropped approximately 40% from their recent 52-week high, making them an attractive option for bottom fishers seeking fresh positions.

Expert Analysis

Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, advises caution to positional investors considering Yes Bank . He suggests maintaining strict stop-loss below ₹18 for those holding Yes Bank stocks in their portfolio. According to Dongre, Yes Bank shares still exhibit weakness in their chart pattern, signaling a sell-on-rise sentiment.

Dongre recommends buying Yes Bank  only within the ₹16 to ₹18 range, with a stop-loss set at ₹14. He highlights a resistance hurdle at ₹26 per share, beyond which Yes Bank shares could approach their 52-week high of ₹32.85.

Conclusion

The surge in Yes Bank share price today reflects the speculative nature of the stock market amid reports of a potential new promoter. While investors may find Yes Bank  enticing at their current levels, it’s crucial to exercise caution and consider the inherent risks involved. As always, prudent decision-making and adherence to stop-loss strategies are essential for navigating the dynamic landscape of stock market investing.

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