Yes Bank Share Price: HDFC Life has joined hands with Yes Bank to sell insurance policies to the bank’s customers across the country. According to stock market experts this may have a positive impact on the Yes Bank share and the private lender stock may appreciate up to Rs 24 per stock mark from its current Rs 13 per share levels. They said that Yes Bank is currently facing a strong hurdle at Rs 17 per share mark and once it breaks this resistance, it may go up to Rs 24 per share soon.
Speaking on the reason for being bullish on the Yes Bank share price Sumeet Bagadia, Executive Director at Choice Broking said, “Yes Bank stocks are expected to get benefit of the recent HDFC Life tie-up to sell insurance policies. On the backdrop of these tie-ups and expansion of the Yes Bank by its new management, Yes Bank shares are expected to showcase some upside moves. Currently, it is having strong support at Rs 12.50 per stock mark. So, one can buy Yes Bank shares at Rs 13 per stock levels for the first target of Rs 17 and then Rs 24.”
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Sharing what the technical chart of Yes Bank suggests Rohit Singre, Senior Technical Research Analyst at LKP Securities said, “Technically, the Yes Bank shares are trading in the range of Rs 11 to Rs 17. Once it breaks this Rs 11 resistance, it will make a good breakout and then it can move up to Rs 21-25 range. Currently, one can buy Yes Bank shares at current Rs 13 levels for the immediate target of Rs 17 maintaining the stop loss at Rs 11.”