What to do with Yes Bank Stock ?

27 Jul

What to do with Yes Bank Stock ?

This is July 2020, Yes Bank share price is now below 20rs after a money laundering investigation and the director is in Jail. But still some stock market lovers are asking some queries as follows : can I take entry in Yes Bank stock, Share price is below 20rs now so can I take re-entry, will share price again go up till 400 etc. Just ask one question to ourselves, if one bank which is under investigation of money laundering/fraud then do we put our hard earned money / savings in that bank. After the news of money laundering, every savings account holder wanted to withdraw money from his Yes Bank account but RBI has imposed some restrictions. In this situation, will any person show interest to open an account or make FD in the bank ? If not, then how can a bank survive in future. RBI has introduced a restructuring scheme and will not let the bank close as there is many depositors money. The growth of Yes Bank is now under dark clouds so a doubtful and risky situation will not help the bank to attract investors, new account holders. In Technical perspective, the short / mid / long term moving averages are in descending orders and share price is trading below it in the monthly chart which indicates a strong downward trend. For long term investment as per technical parameters, share price should be above these moving average indicators which suggest a positive momentum in the counter.

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