Shares of Yes bank today saw over 8% increase in value post announcement of positive Q4 results. The company saw net profit increase by 29% on YoY basis and net income for Q4 grew by 31.4% increase in value. RSI indicator which is used to measure the momentum of stock based on speed of change in stock price regardless of direction in which price moves is currently in range of 38 to 73 as the signal line moves well inside overbought region supportive of upward momentum in near future trading session.
Parabolic SAR indicator and ADX crosses indicator which are used to identify good points of entry and exit have both formed bullish signals in intra-day charts supportive of continued uptrend price growth in near future trading session. Similarly Zig Zag indicator which is used to predict reversal of trend in longer time frame without being influenced by any short term volatility has also formed uptrend indication across intra-day charts supportive of continued bullish price movement. Expected support and resistance levels for the stock are at 284.66 & 366.18 respectively.