- YES Bank dropped 7.2% after a major block deal saw 3% equity change hands. Key support at ₹21 holds. Traders eye ₹20.36 as the next level.
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 Chart Levels: Structure Still Intact
- Price rejected at ₹22.83 — confirmed resistance for now
- Intraday low near ₹21.00 offers a temporary floor
- Stronger demand seen at ₹20.36, where buyers previously stepped in
- RSI hovering at 46 — recovering from a dip near 30
- MACD shows early signs of bullish crossover, but no strong momentum yet
Outlook: Risk Builds Below ₹20.36, But No Breakdown Yet
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.