Yes Bank Elliottwave Short Term Update

Yes Bank Elliottwave Short Term Update

Yes Bank Elliottwave Short Term Update : CMP 309.

Yes bank has hardly moved from time of our last post 15-Nov-2017 : Quote “From sept 21 high at 382.90, we have a clear 5 waves down in wave A to 295.  Price should bounce to 325 to 360 level in wave B, before it makes its way down to the apprx 275 levels in wave C”

Quote from 27 Oct 2017 “Typically wave 4 of larger degree ends at wave 4 of one smaller degree and sometimes wave 4 of two smaller degrees.  This is also very clear.  Wave 4 of one smaller degree is at 275.25 and wave 4 of two smaller degrees is at 2 at 218.11”

Intermediate Trend is to the downside, tho short term we may have bounces to the 325-360 level, but not advisable to take this as counter trend trade.  There are better opportunities elsewhere for now.  Keep alerts for price falling below 280 as at that point, a good opportunity is probable.

Yes Bank Elliottwave Short Term Update

Yes Bank Elliottwave Daily Chart.

 

Posted in Elliottwave India.