Yes Harshavardhan, S-tranfrom will do like wavelet transform. S transform is variable window of short time Fourier transform: an extension of wavelet transform
Generally, S-Transform provide a better resolution in both time and frequency domain. It is possible to demonstrate that Wavelet Transform is a special case of the S-Transform. Moreover, using S-Transform you can directly evaluate the local spectrum of the signal without using any empirical relationship between the scale factor and frequency.