Yes Bank: Complete Wave Cycle and Gann Analysis

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Yes Bank Weekly chart


Elliott Wave analysis helps to understand possible support and resistance especially five waves up and three waves down are so evident. From the above chart, prices have completed or on the brink to complete (A-B-C). Currently prices are moving in wave C. This A-B-C pattern is a Zigzag pattern in which wave c is near to 100% of wave A to wave B. 

I strongly think that prices are on the verge to form a bottom and can move higher from current levels. This can also be a trend reversal. I have also marked the level of 49. The importance of this level can be explained in the below chart where Yes Bank is explained via Gann Analysis.

Yes Bank Weekly Chart


From the above chart, I have shown square of 9. The master calculator which W.D Gann was using. I have used this calculator to predict that 49 is an important support, reason being it falls on the ordinal cross. So ideally, it is difficult for Yes Bank stock price to move down below 49 or it can also be interpreted that demand zone is set at the level of 49.

By combining Elliott Wave and Gann analysis I have come to the conclusion that a bounce back or reversal is due in Yes Bank. The readers who wish to learn details of Elliott Wave and Gann analysis can click the below link for details

 https://www.marketanalysiswithmeghmody.com/2019/09/elliott-wave-neo-wave-gann-analysis.html


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