Retinal waves are spontaneous waves of spiking activity observed in the retina, during development only, playing a central role in shaping the visual system and retinal circuitry. Understanding how these waves are initiated and propagate in the retina could enable one to control, guide and predict them in the in vivo adult retina as inducing them is expected to reintroduce some plasticity in the retinal tissue and in the projections to the LGN. In this context, we propose a physiologically realistic reaction-diffusion model for the mechanisms of the emergence of stage II cholinergic retinal waves during development. We perform the bifurcation analysis when varying two biophysically relevant parameters, the conductances of calcium and potassium g_Ca, g_K respectively. The two main goals of our work are: firstly, reproduce the experimental recordings of developmental retinal waves by simulating our model and secondly, explore the different dynamical behaviours observed when varying these two parameters.