Steel Xchng re accumulationSteel exchange is consolidating with MM's VCP pattern. Near term target 300.
Reaccumulation
Venky's - An Example on How Reaccumulation Works?Wyckoff studied stock movement in terms of demand and supply almost a century back.
He categorized stock movement into cycle of -
Accumulation (Oversold Zone) --> Reaccumulation (can be multiple) --> Distribution (Overbought zone) --> Redistribution --> Accumulation
Study of each phase can be a book in itself, however we here try to demonstrate how a reaccumulation can occur.
Note - This is an analysis on past and not a buying recommendation. This is purely an educational material on Wyckoff methodology.
We intend that the reader uses the concept rather than copy any trades.
BHEL LONGI previously posted an idea to short BHEL only IF it breaks the marked distribution phase from the lower band. If you see the description of the previous idea on BHEL, you can see that I have written there that ONE MAY LOOK FOR BUYING OPPORTUNITIES IF IT GIVES A BREAKOUT FROM THE UPPER SIDE OF THE RECTANGLE.
And here we are Today Bhel gave a good breakout form the upper range. And hence, as suggested before, one may look for buying opportunities now and we will now treat this distribution phase as RE-ACCUMULATION PHASE!!
LEVELS: (Based on weekly charts
ENTRY: Buy above 81 (on closing basis)
Target 1: 100
Target 2: 108
Target 3: 119
STOP LOSS: 73
TRAIL STOP LOSS
I would recommend going long on BHEL with above levels ONLY
FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT THIS!!
THANKS
MUTHOOT FINANCE BREAKOUT Chart is self-explanatory. Open the chart above for detailed view of analysis.
FOLLOW IF YOU LIKE THE ANALYSIS.
LIKE AND COMMENT WHAT YOU THINK ABOUT IT!!
Torrent Pharma: Wonderful Re-accumulation CandidateThis stock comes across as a wonderful #Wyckoff #Re-accumulation candidate. After a prolonged trading range, the price registered a breakout and retest of the range. The volume and price signature today is very encouraging. I am long this stock with a stop loss at 1,700.
Greaves Cotton: Comes Across As a Re-Accumulation CandidateThe stock has been stuck in a trading range for almost 3-years now. The volume signature within this trading range indicates that major accumulation is underway in this stock. The price action in the past few weeks has been very constructive with volumes picking up along with momentum to the upside.
I am watching this stock with interest and would buy it either on a breakout above 140 (intra-day or 2-5 day trading horizon) or above 146.5 (for positional trades).
