📘 Overview
Yes Bank appears to be completing a textbook Elliott Wave impulsive structure, having finished Wave I and Wave II, and now entering the most powerful phase — Wave III.
The stock has turned bullish after reclaiming both 50 EMA and 200 EMA, signaling renewed investor confidence and long-term accumulation.
🔹 Wave Structure Summary
Wave I (Completed)
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Duration: 128 weeks
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Gain: +248 %
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Structure: 5 clear internal sub-waves (i – v)
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Outcome: Established the first major impulsive leg and reversed the prolonged downtrend.
Wave II (Completed)
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Duration: 57 weeks
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Decline: -20 %
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Pattern: Corrective A-B-C formation
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Fibonacci Retracement: 61.8 % of Wave I — ideal depth for a healthy correction.
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Function: Created a solid base for the upcoming impulsive advance.
🚀 Current Phase – Wave III in Progress
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The stock is now trading above 50 EMA (21.53) and 200 EMA (18.66) — a strong confirmation of trend resumption.
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Sub-wave (1) and (2) seem completed; price is likely in sub-wave (3) of Wave III, the acceleration phase.
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Momentum and volume are both supportive of a sustained move higher.
📈 Fibonacci Projections & Target Zone
| Extension | Level (INR) | Comment |
|---|---|---|
| 100 % | 38.37 | Minimum projection of Wave III |
| 161.8 % | 52.18 | Typical Wave III extension |
✅ Target Zone: ₹ 38.37 – ₹ 52.18
🎯 Potential Upside: +60 % to +115 % from current price ₹ 24.00
🧠Key Levels
| Type | Level (INR) | Description |
|---|---|---|
| Support / Stop-Loss | 17.70 | Below Wave II low – pattern invalidation zone |
| 50 EMA | 21.53 | Short-term support |
| 200 EMA | 18.66 | Long-term support |
| Resistance / Targets | 38.37 – 52.18 | Wave III target range |
⚙️ Technical Highlights
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Price trading above 50 & 200 EMA → bullish trend confirmation.
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Volume expansion on impulsive legs → institutional interest building.
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Stop Loss: ₹ 17.70 (for positional traders).
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Structure Invalidation: Weekly close below ₹ 17.70.
📊 Summary
| Parameter | Observation |
|---|---|
| Current Wave | Wave III in progress |
| Structure | Impulsive |
| Trend | Bullish |
| Risk : Reward | ≈ 1 : 3 |
| Outlook | Medium- to long-term bullish |
| Target Zone | ₹ 38.37 – ₹ 52.18 |
💬 Conclusion
Yes Bank Ltd appears to have completed its corrective Wave II and has begun a fresh impulsive Wave III, supported by EMA crossovers and strong Fibonacci alignment.
Holding above ₹ 21.50 keeps momentum intact toward ₹ 38 – ₹ 52.
A close below ₹ 17.70 would invalidate the wave structure.
📌 Disclaimer
This analysis is for educational purposes only and does not constitute financial advice.
Always perform your own due diligence or consult a certified financial advisor before making investment decisions.
