RBL Bank: New Bullish Wave Developing, ₹512 Target Seen
Media RBL Bank: New Bullish Wave Developing, ₹512 Target SeenRBL Bank Ltd. NSE:RBLBANK forextidings MediaKey Highlights
Wave (1): The earlier major advance from the 2022 low to the January 2024 high.
Wave (2): A corrective A-B-C pattern that ended at Wave C.
Wave (3): The current upward phase, which is still developing.
Media RBLBANK has maintained a strong upward trend after completing a larger corrective phase. Based on the current wave structure, the 1.618 Fibonacci projection is placed around ₹512.65. This level can be considered a potential long-term objective if the current bullish wave continues to develop as expected.
The main positive factor is that the stock has continued to make higher highs and higher lows after the March 2025 bottom.
As long as the larger bullish structure remains intact, the current advance could continue toward higher levels. The long-term wave structure remains positive, with the stock appearing to be in a new impulsive advance.
However, this count should be treated as a working Elliott Wave scenario, as wave labels can change if subsequent price action invalidates the structure.
TradingView
RBL Bank: New Bullish Wave Developing, ₹512 Target Seen for NSE:RBLBANK by forextidings
Key Highlights
Wave (1): The earlier major advance from the 2022 low to the January 2024 high.
Wave (2): A corrective A-B-C pattern that ended at Wave C.
Wave (3): The current upward phase, which is still developing.
NSE:RBLBANK has maintained a strong…
August 30, 2026 8
