Wyckoff Method Levels
1. Bullish Scenario:
The price has likely completed the accumulation phase and is now entering the markup phase. A breakout above BOS 2 at ₹137.46 would signal the start of a potential bullish trend. Once the price breaks above this level, it’s a good point to enter long positions.
Target levels for the bullish move:
For risk management, place a stop loss below ₹116.30 or ₹119.66 depending on your risk tolerance.
2. Rejection Scenario:
If the price faces rejection between ₹134.65 and ₹137.46, this may indicate that there’s more selling pressure and the price could drop back towards support zones. In this case, it's best to wait for a breakout above BOS 2 to confirm that the bullish trend is continuing.
Once the breakout above BOS 2 occurs, you can enter long positions with the same targets as the bullish scenario. Ensure to confirm the breakout with volume and price action to avoid false signals. Set your stop loss below ₹126.85 or ₹130.90.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
- Rejection area / BOS 2 (134.65 to 137.46)
- Automatic Rally / Support / Resistance
- BOS 1 – Breakout of structure
- Last point of support: 119.66
- Primary Support: 116.30
- Selling Climax: 106.68
- Secondary Test: 100.81
1. Bullish Scenario:
The price has likely completed the accumulation phase and is now entering the markup phase. A breakout above BOS 2 at ₹137.46 would signal the start of a potential bullish trend. Once the price breaks above this level, it’s a good point to enter long positions.
Target levels for the bullish move:
- First Target: ₹142.68
- Second Target: ₹152.96
- Third Target: ₹168.06
For risk management, place a stop loss below ₹116.30 or ₹119.66 depending on your risk tolerance.
2. Rejection Scenario:
If the price faces rejection between ₹134.65 and ₹137.46, this may indicate that there’s more selling pressure and the price could drop back towards support zones. In this case, it's best to wait for a breakout above BOS 2 to confirm that the bullish trend is continuing.
Once the breakout above BOS 2 occurs, you can enter long positions with the same targets as the bullish scenario. Ensure to confirm the breakout with volume and price action to avoid false signals. Set your stop loss below ₹126.85 or ₹130.90.
- Bullish Breakout: Buy above ₹137.46, targets ₹142.68, ₹152.96, ₹168.06. Stop loss below ₹119.66.
- Rejection: Wait for breakout above ₹137.46. Same targets. Stop loss below ₹126.85.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.