YES Bank stock plunged 7.2% on Tuesday after a large block deal saw nearly 3% of the company’s equity change hands during the session. The move caught traders off guard and sent the stock sharply lower from intraday highs near ₹22.80 to lows around ₹21.00.
The deal, reportedly involving institutional players, sparked speculation about a potential exit or reshuffle in large holdings. Without clarity on the buyers or sellers, the selloff looked like a knee-jerk reaction in a tightly traded name.
Despite the drop, support appears to be holding.
YES Bank is still up over 15% from May lows, so the structure isn’t broken, not yet. The key level to watch is ₹20.36. If that cracks, momentum could shift in favor of the bears, with a clean path toward ₹19.50.
For bulls, the story is simple: hold above ₹21 and reclaim ₹21.87. That opens the door for another attempt at ₹22.83. But sentiment will stay fragile unless new buyers step in or clarity emerges on the block deal.
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This post was last modified on Jun 03, 2025, 12:44 BST 12:44