Shares of YES Bank Ltd surged nearly 7 per cent on Wednesday to hit a 52-week high on the back of heavy volumes. Technical analysts believe that the stock is headed for more upside in the near future. However, the stock has been in the news lately for multiple reasons.

The Enforcement Directorate (ED) on Tuesday raided 17 locations in Mumbai, Khandala and New Delhi as part of its investigation into the alleged fraudulent assignment of YES Bank loans. The searches targeted premises linked to Suraksha Asset Reconstruction Company, Suraksha Realty, Khyati Realtors, their promoters, directors, employees and a former YES Bank employee.

YES Bank recently announced a strategic partnership with Northern Arc Capital Ltd aimed at expanding access to credit, scaling digital lending, and offering debt investment opportunities to customers. The private lender shall collaborate to bring its balance-sheet strength, digital infrastructure, and distribution network with Northern Arc's origination, underwriting and technology capabilities.
 

YES Bank shares hit a 52-week high
YES Bank shares gained more than 6.52 per cent to Rs 25.45 during Wednesday's trading session, with its market capitalization nearing Rs 80,000 crore mark. The stock has gained nearly 48 per cent from its 52-week lows hit three-and-a-half months ago. The stock is up more than 15 per cent in the last one month period.
 

Heavy volumes support the rally
According to the data, more than 2.84 crore equity shares worth Rs 71.68 crore were traded on BSE Ltd as of 12.55 pm. This is nearly 3 times of its two-week average volume. Similarly, more than 29.5 crore equity shares, valuing more than 735.25 crore exchanges hands on NSE as of the same time.

Key levels to watch ahead
YES Bank is showing a bullish trendline breakout from a long-term Downward channel. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. The next major resistance is likely around Rs 25.52, which also coincides with previous swing highs and psychological resistance, said Canara Bank Securities in its recent note.

"RSI is near the bullish zone around 65, reflecting strong momentum, although slightly overheated in the short term. On sustaining above Rs 25.52 can keep the momentum intact towards Rs 27.41 and potentially higher levels, while immediate support now shifts to Rs 22.70," it added with a target price of Rs 25.52-27.31 with a stop loss at Rs 21.66.

YES Bank has shown a positive trend following the announcement of its massive Q4FY26 numbers. It is forming a bullish pattern on the weekly charts. The price is also trading above all moving averages across all timeframes, which suggests that the rally could reach Rs 26 with the key support at Rs 20, said Muthuselvaraj M, Technical research analyst at Mirae Asset ShareKhan.

"A break above this upside hurdle indicates that the positive momentum could continue beyond the Rs 32 level in the medium term. Both the MACD and RSI momentum indicators have shown a positive cross and are standing upward at 60 on a weekly basis. Therefore, Yes Bank stock is expected to continue its positive momentum in the upcoming timeframe," he suggested.

YES Bank has witnessed a strong breakout in the current week by moving above the key resistance level of Rs 24.25 and the breakout indicates improving bullish sentiment and suggests the possibility of further upside in the coming sessions, said Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers.

"Momentum indicators remain supportive, with both the daily and weekly RSI sustaining above the 60 mark, reflecting strong buying interest and positive price momentum across multiple time frames. As long as the stock holds above the crucial support zone of Rs 23, the bullish outlook is expected to remain intact. On the upside, the next major resistance is placed near Rs 27.53," he adds.