TechyKorner: Technical Analysis Of Indian Stock Market

YES BANK LIMITED (NSE: YESBANK) – Elliott Wave & Technical Outlook

2026-09-19T23:36:50.076-07:00

📘 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)

Duration: 128 weeks
Gain: +248 %
Structure: 5 clear internal sub-waves (i – v)
Outcome: Established the first major impulsive leg and reversed the prolonged downtrend.

Wave II (Completed)

Duration: 57 weeks
Decline: -20 %
Pattern: Corrective A-B-C formation
Fibonacci Retracement: 61.8 % of Wave I — ideal depth for a healthy correction.
Function: Created a solid base for the upcoming impulsive advance.

🚀 Current Phase – Wave III in Progress

The stock is now trading above 50 EMA (21.53) and 200 EMA (18.66) — a strong confirmation of trend resumption.
Sub-wave (1) and (2) seem completed; price is likely in sub-wave (3) of Wave III, the acceleration phase.
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

Price trading above 50 & 200 EMA → bullish trend confirmation.
Volume expansion on impulsive legs → institutional interest building.
Stop Loss: ₹ 17.70 (for positional traders).
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.

NSE:BIRLACORPN - Looks Good!

2024-05-04T21:55:00.000-07:00

BIRLACORPN - Looks Good! by hardeepssethi on TradingView.com

Script: BIRLACORPN Time Frame: Daily Chart Type Of Pattern Identified: Symmetrical Continuation Triangle pattern A Symmetrical Continuation Triangle pattern, is typically seen as a bullish continuation pattern. This pattern usually indicates a temporary consolidation before the price continues in the direction of the prior uptrend. Traders often look for a breakout to confirm this pattern, usually with increased volume supporting the breakout. This breakout suggests a potential continuation of the uptrend. Remember to consider other factors and confirm with additional analysis before making any trading decisions. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade

Zentec Looks Good!

2023-10-28T22:11:00.002-07:00

ZENTEC - Continuation Wedge (Bullish) Pattern by hardeepssethi on TradingView.com

A "Continuation Wedge (Bullish)" chart pattern formed on Zen Technologies Ltd ( ZENTEC ). This bullish signal indicates that the stock price may rise from the close of 742.15 to the range of 842.00 - 920.00. Supportive Points: -After a temporary interruption, the prior uptrend is set to continue. -Also there was a gap on 7th Aug 2023 which was filled on 26th October 2023. -Pattern formation took roughly 71 days, so target will be sooner or later than 71 days. -FII has Increased Qty - You can refer third party tool to verify the same. Quarterly Results : M.Cap ₹ 6,237 Cr PE 71.0 Item YOY Sep 2023 Jun 2023 Sep 2022 Sales ⇡ 203% 64.0 132 21.1 EBIDT ⇡ 304% 21.8 66.2 5.39 Net profit⇡ 279% 17.3 47.1 4.58 EPS ⇡ 255% ₹ 2.06 ₹ 5.61 ₹ 0.58 PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.

Dollar Industries Intermediate Term looks bullish!

2023-06-20T19:46:00.001-07:00

Dollar Industries Intermediate Term looks bullish! by hardeepssethi on TradingView.com

Based on the price movement, there was a period of consolidation where the price was trading within a range. However, the recent price action indicates a significant break above this consolidation phase, which suggests a continuation of the previous upward trend.

Initially, the pattern started during a downtrend as prices formed higher highs and lower lows within a broadening pattern. Subsequently, the trading range gradually narrowed after reaching the peak highs and the lows began to trend upward. The recent breakout above the upper boundary of this narrowing diamond pattern indicates the resumption of the previous uptrend.

Note for everyone who came across this reference:

This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.

Daily-Chart View of Rashtriya Chemicals & Fertilizers Ltd.

2023-06-17T22:51:00.000-07:00

RCF - Continuation Diamond (Bullish) by hardeepssethi on TradingView.com

On Daily-Chart of Rashtriya Chemicals & Fertilizers Ltd.

A bullish continuation pattern known as a broadening pattern or diamond pattern has been formed. This pattern typically occurs during a downtrend and consists of price movements creating higher highs and lower lows, forming a widening or broadening shape.

As the pattern progresses, the range between the highs and lows narrows, indicating a potential consolidation or indecision in the market. However, when the price breaks out above the upper boundary line of the diamond pattern, it suggests a continuation of the prior uptrend. This breakout is seen as a bullish signal, indicating that buyers have gained control and the upward momentum is likely to resume.

It's important to note that technical analysis patterns are subjective and should be used in conjunction with other indicators and analysis techniques for more accurate predictions. It's always recommended to conduct thorough research and analysis before making any trading or investment decisions.

Note for everyone who came across this reference:

This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.

Mahindra Logistics - Indian Stock Market View

2023-06-16T19:21:00.004-07:00

Diamond Bottom Pattern Formation by hardeepssethi on TradingView.com

Daily Chart analysis of MAHINDRA LOGISTICS

Mahindra Logistics stock price has reached a point of stabilization and is displaying indications of a potential reversal. Following a period of uncertainty or consolidation, the price has broken out in an upward direction, suggesting a shift in market sentiment.

This pattern is known as the Diamond Bottom, which initially forms during a downtrend with a series of higher highs and lower lows. Subsequently, the price range gradually narrows, accompanied by an upward trend in the lows. The breakthrough of the diamond's boundary lines confirms a substantial reversal, signaling the start of a new uptrend.

Note for everyone who came across this reference:

This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.

6 Indian Stocks Pattern Study Dated 1st June 2023

2023-06-01T16:40:00.002-07:00

Head and Shoulders Bottom by hardeepssethi on TradingView.com

Symmetrical Continuation Triangle by hardeepssethi on TradingView.com

Flag (Bullish) by hardeepssethi on TradingView.com

Double Bottom by hardeepssethi on TradingView.com

Continuation Diamond (Bullish) by hardeepssethi on TradingView.com

Bottom Triangle - Bottom Wedge by hardeepssethi on TradingView.com

Megaphone Pattern Trading in Barbeque

2023-05-27T06:22:00.004-07:00

Megaphone Pattern Trading in Barbeque by hardeepssethi on TradingView.com

Megaphone Bullish Pattern seen in barbeque nation hospitality ltd.

It represents a battle between buyers and sellers, leading to peaks and troughs in price. When connecting these highs and lows, the megaphone pattern emerges.

Can we use a megaphone pattern for Day trading, scalping, and position trading?

Regarding the usability of the megaphone pattern for different trading approaches, it is generally considered more effective on longer timeframes such as swing trading and position trading. The pattern's reliability may be diminished on shorter timeframes due to increased noise and random price fluctuations. Therefore, it can be used for day trading, swing trading, and position trading, but it may not be as suitable for scalping strategies that rely on quick trades within short time periods.

What is the winning Ratio of megaphone pattern trading?

As for the winning ratio of the megaphone pattern, it is important to note that no trading pattern guarantees a fixed win ratio. Market conditions, price behavior, and other factors can influence the outcome of trades. While the megaphone pattern is considered highly effective, it is still advisable to conduct thorough analysis, consider additional indicators, and manage risk properly. Consequently, it is not accurate to claim a fixed win ratio above 70% for the megaphone pattern or any other trading pattern.

Conclusion

Finally, as mentioned earlier, the megaphone pattern can act as both a trend reversal and a trend continuation pattern. Its interpretation depends on the context and market conditions. Traders can adjust their trading strategies accordingly, either taking trades that anticipate a reversal or trades that follow the continuation of the existing trend. It is important to consider other factors and confirmatory signals before making trading decisions solely based on the megaphone pattern

Note for everyone who came across this reference:

This chart analysis is only for educational and reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.