Yes Bank

Yes Bank - lets take a look at two levels.

First Long term it could be ending a 5th wave so watch if it closes down for the month then the recent high of 383 might become a long term pivot for a top.

The weekly chart shows you the immediate picture. Note triangles occur in wave 4 and wave B mostly and that is what I use here in this puzzle. The rth wave in circle was a triangle and I published then that this is the final move. Then after the triangle in 2016 I thought the next move to a high was also a final move, but that triangle is mostly wave B of a ending pattern in the 5th.

So the ending pattern has now broken on the downside and today's bounce is just kissing the lower line at 330. So the next move down from 330 should be wave 3 down where 3=1 goes to 282 near the wave D low at 279. If 279 breaks then we would have to open up to the wave B low at 218. 61.8% of the 5th wave is at 227. A break of today's low of 313.45 confirms wave 3 down.

Yes Bank

Yes Bank has fallen in what can be marked as 5 waves. Now unless the recent low of 198.65 breaks we are looking at a wave B counter trend move. the move up in 3 waves is open to multiple retracement levels. Once wave a and b of B, up, is done we can project somewhat the end point of c=a. Till then all retracements are open. 38.2% at 276 might be a starting level.

Yes Bank

With some changes it can still be a 5 wave decline coming to an end somewhere here. The RSI at 13 makes it very oversold. The volumes at the low show a selling climax. To reflect on psycholog, the markets reaction to Rana Kapoort exit is like NRN handing it over to Sikha or ICICI CEO not stepping down. But change in management never killed a large company. We do not know at this stage and sometimes the announcement of a new name that people like can get a reverse reaction. It is all sentimental at this stage, unless there is something breawing at the bank that is not known. ICICI in fact rallied back after absorbing all that news.

Yes Bank Update

Yes bank has clearly broken the swing lows and unlike the market it is not attempting one more bounce back as I was anticipating. Now we see two new series of impulsive waves down, that can be the start of a major wave 3 down. We are in iii of 3 then, and any bounce will be minor ii of iii and might not go very far, the 169 and 181 being resistance. On the other hand  3=1 goes to 109. That wave 3 down started irrespective of the market still in wave 2 comes as a surprise but that is what it is.

Yes Bank Update

Yes bank is very close to 181 resistance but above that it can also go to 61.8% near the 20dma at 198-200. From there wave iii down may start. A close above 200 would bring into consideration the next chart.

That the entire fall just completed 5 waves down and we get a bigger retracement. What i do not like about this count is that the sharp retracements in waves IV and 4 are very big compared to II and 2, so it does not feel like part of the same structure, so preferred view is above.In the case below above 200 we test either wave 4 high at 231 or wave IV high of 268 in wave B. eventually wave C down takes us below 147 so betting on the upside appears dangerous.

Yes Bank

The breakout in Yes bank was wave (c) of B and failed to hold. Wave C down has resumed, and C=A changed based on the new high to 96.50. Wave C is a 5 wave decline. A 5-3-5 structure marked as A-B-C is called a zig-zag. Since wave B is a counter trend bounce that is downward slanting it is called a running correction and is rare.

Yes Bank

A lot of requests for updates on Yes bank among others. But I post only when the patterns show more certainty and just for the sake of it. So am putting out Yes bank with a Caveat, it should not get past the 230 pink trendline and the wave (c) high at 236. In doing so this entire period from Oct can be shown to develop as a triangle in wave B. A lot of news around the stock and tomorrow it may react to the RBI saying that it partly disclosed information about a report that was confidential. Will that comment kick of wave C down? That is to be seen Wave C=A points to below 100 from 236 and the larger picture using the blue line can look like a head and shoulders top as well. Fingers crossed

Yes Bank

This one went far further than I imagined but remained a counter trend bounce. so above 240 it broke out toward 285 just below the 20 month average. Now today it is breaking the rising channel for wave B shown here. So C=A from the 285 top is at 105.

Yes Bank

Someone asked me about yes bank. It did not reach C=A, and weekly charts count as wave iv up and wave v down pending. This at a time that bank stocks are on the fly on hopes of rate cuts. So I am not confident here is all I can say and in such a time I just let it pass and watch.