YES Bank stock up 10% on SMBC deal buzz; time to buy, sell, hold?

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YES Bank stock up 10% on SMBC deal buzz; time to buy, sell, hold? - Business Standard

Quick Summary:

Technical chart indicates that the bias at the YES Bank counter is likely to remain tepid as long as the stock trades below this particular resistance zone; here are the key levels to watch out for.

Reports indicated that the Reserve Bank of India (RBI) has verbally assured SMBC to retain a majority stake in YES Bank. A 51 per cent stake sale in YES Bank would give SMBC effective control, pending regulatory approvals.

Interim support for YES Bank stock can be anticipated around ₹ 17.85 and ₹ 17.40 levels.