Mar 282012
 

Yes Bank is one of the new private banks in India and its stock has been going places from the 2009 lows. Here’s an Elliott Wave analysis of Yes Bank Ltd. Even if you have no interest in Indian stocks, you can learn from the charts. Enjoy.

  26 Responses to “Elliott Wave Analysis of Yes Bank Ltd”

  1. I completely disagree with wave count of yes bank.
    I feel yes bank have completed flat correction .
    5-3-5 where c wave of flat seems to be terminal, which completed
    In dec 2011. Now we are in new impulse, 1st of this impulse have
    Crossed prev top. If we calculate the immediate targets can be well above
    700 to 800 Rs in 9 – 12 months.

    • Hi Gul, thanks for your comments. It is perfectly possible for different people to have different counts for the same chart, and make money at the same time. My only objection to your count is a flat should not be 5-3-5. It should be 3-3-5. Best wishes

  2. Sir,
    please give us TATAMOTORS (NSE) road map (WAVE COUNT is it in w4 or it started w5

    Thanks

    • HI Hemin, How are you? It is very hard to look at individual stocks that all my WaveTimes club members seek! But I must confess that I have started buying small amounts of Tatamotors as a medium term investment.

  3. Sir, to have a fall like this there should be a strong negative news affecting the sector/Stock
    Thanks for the EW update. Will definitely look out for that…
    You analysis was too good for TATA power from 110 stock slided down to 93, from 93 stock zoomed to 103 .
    power of ELLIOT WAVE…………..

  4. hello sir, yes bank quoting around 275. so is this count forfeiting? if yes than whats the probable new counts ?

  5. Dear Shri Ramki,

    At the outset, please accept my appreciation of your valued info. in this forum
    I have yesterday, posted in our WAT forum, your analysis of Yes Bank( in Indian Market) and it is receiving good readership.
    I , as one of the inquisitive members of that forum as well here, would request you kind focus on RIL,SBI and TCS, L&T 4 major shakers of our NIFTY and give your views.
    I fully agree that it will be great pain to do this amidst your busy preoccupations,but I thought I could make a request and I trust mine will be acceded to.
    Cheers
    balu

  6. hello sir,

    yes bank constantly trading above 365 since last few trading session. still pattern not changed ? still target remains the same ?

    Riddhi

    • Riddhi, About Yes Bank, the stock remains well bid, and that means any downmove will happen only later. My post was more instructional in nature and not a trading recommendation. In any case, as it didn’t stay below 365, it suggests that one will have to rework the minor waves to figure out where the up move from 230 is going to end.

  7. Sir,

    yesbank came down up to 294 (on 5/18/2012) now ones again come up to364.25

    and to day close 354.40 is change in wave count ?

    place guide us.

    Thanks

  8. Hi Ramki,
    Are you still holding the bearish view on Yes Bank. Even my wave count suggests YES BANK should go below 250.

  9. Hi Sandy, For Yes bank we need a close below 345 to set the ball rolling on the downside

    • Hi ramaki,
      thanks for update. Wave C has started. may be we are in wave 2 of C. So on up we are looking 390 max. is my wave count correct? Please explain why you are saying close below 345. it will be good learning for me.

  10. Sir,
    thank you very much

  11. Respected Sir,
    yes bank came back once again above 373.95 & closed 380.75. as per my calclulation this is sub “c” wave of 2nd wave. so pl. guide me. this will help me to develop my knowledge.

  12. Dear Sir,

    Between 27th August and 14th September, Yes bank did give several closes below 345 but has not reacted as projected, instead it has gone as high as 380 on 17/09/2012.

    Regards
    anup

    • Hi Anup, the Yes bank update gives you a handle on how to anticipate the market. However, if the moves fail to materialize as expected, you should give that stock a break and look at something else. It is six months since I wrote that note, and clearly we shouldn’t bother with it any more.

  13. Ramki Sir,

    For new Impulsive Cycle to start,is it mandatory to have a new significant low?For e.g,Yes bank made a low of 216 and from there on its moving higher.Can we say that new Impulsive Cycle has started?Do we need to look into bottom for finding out significant low or new Impulsive Cycle can also start even though particular Stock/Index has not made a significant low.Kindly provide inputs for same.

    • Prabh, always start with a significant low. There are different degrees of cycles, and each significant low can usually be counted as the start of a new wave 1 of that degree. More importantly, counts often change. But if you get the direction right for the next move, you are making money!

  14. what a hit and miss —-but i must say it was a brilliant hit —-when it began rolling out thanks for your charts ramki,,,,, yes bank a classic case of time and EW principle followed —-when it comes ,,,,, appreciate if we could have u r view on yes bank—-as i find it following EW very nicely on all time frames —-
    from the current levels purely on charts no price tag —-and probability of it doing the same ( taking time )

    with due regds

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