Wyckoff Analysis and Trade Ideas for Indian Bank

Projection for Bullish and Bearish Scenarios:

1. Bullish Projection:

• If the price continues its upward movement, the target mentioned on the chart is 615. This aligns with Phase D's expectation for a continuation of the markup.
  
• Beyond 615, the next major resistance might lie closer to 630-640 range, and further movement upwards could push the price to the 750+ level.
  
• However, confirmation of a bullish trend can only occur if the price continues to hold above the 529 level (Last Point of Support, SOS). A solid close above this level, along with momentum, would suggest further upside.
  

Bullish Trade Idea: Buy above 561, target 615 with stop below 529, confirming upward momentum from Spring & Test phase.

2. Bearish Projection:

• If the market fails to hold the 529 level, it could signal a Break of Structure (BOS). In this case, expect a potential move downwards, possibly retesting 480-490 or even lower if the distribution phase occurs.
  
• A bearish trend could form if the price fails to continue above the 615 resistance level, which would confirm that the markup phase is running out of steam. If a topping structure begins to form, the price could face resistance and possibly reverse into a bearish phase.
  

Bearish Trade Idea: Sell below 529, target 480, with stop above 561, confirming breakdown after failed markup above support.

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