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Nykaa- Wyckoff AccumulationThe stock has broken out📈 of 11 months long consolidation or Wyckoff accumulation phase as Wyckoffians calls it. There are many signs of strength which signify a potential change in trend from downtrend to an Uptrend. ⚡We all are familiar with what is called a down trend📉. A downtrend simply means lower lows and lower highs in the price structure. In this chart we can observe a shift in structure from LL-LH to a HL-HH. ⚡In more simpler terms, the price just managed to jump🏋️‍♂️across the resistance by breaking recent swing highs. ⚡Not only it broke above the resistance, but it did with huge volume💪 also. This is telling us about the strong buying interest by the traders and investors🧐. ⚡Also notice higher volume on Up days than on the Down days. This is another indication of accumulation going on since Jan 2023. ⚡The price has been holding above the breakout level (see blue rectangular area on the chart). It's not uncommon for the price to pullback to retest those levels and then resume on the upside. ⚡Pullbacks should be considered as a buying opportunity as long as the stock holds above the breakout level. I hope this idea will add to your learnings. Keep boosting🚀for more educational ideas in future.
NSE:NYKAALong
by Bravetotrade
2
Why do I think the IT index is going to rally soon?Hi all, hope you guys are doing well. Over the last 2 months, we have seen a great rally in the majority of the indices, except one - The IT index. Read this post to find out why I think IT is going to pump soon! 1. The IT index has been strongly underperforming the benchmark as well as all other sectoral indices for the last few months. I have taken the June lows as a reference because the market started rallying from there onwards. Observe how the IT index is lagging far behind all other indices. 2. In the last few days, the IT index has been strongly improving, suggesting a mean reversion towards the benchmark index - Nifty. Notice the angle of the curve. On the other hand, all other indices seem to be more or less flat. If the market is able to consolidate the gains and maintain the bullish to sideways narrative, the IT index can really perform well in the coming weeks. 3. This is also in line with the structure. If you notice, the index seems to be forming the Wyckoff accumulation schematic in which the "Spring" seems to have been established on 15 July. Currently, the price appears to be bouncing off the range low and may head towards the range high. 4. The market structure has started to shift to the upside. As we can notice, after the formation of the low on 15 July, the price rallied higher creating a higher high. This caused a shift in the market structure. 5. If we get a move above the range high at 31k, it will confirm that the short-term structure has turned bullish and we can expect higher prices, possibly a move towards 34k. 6. All the IT stocks have been forming a similar structure. I am attaching a few charts for reference. 🔹 Wipro: 🔸 Infosys: 🔹 Mphasis: 🔸 Coforge: Thanks for reading. I hope you found this helpful! 😊 Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk. Happy learning. Cheers! Rajat Kumar Singh (@johntradingwick) Community Manager (India), TradingView
NSE:CNXITLong
by johntradingwick
24
Tata Power - Possible distribution scenarioTata Power is printing almost a textbook example of Wyckoff distribution. I have attached the distribution schematic for reference. The range low would act as the last point of supply and the price should get rejected from it. Over the next few months, it may head towards the 150 level. Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk. Happy learning. Cheers! Rajat Kumar Singh (@johntradingwick) Community Manager (India), TradingView
NSE:TATAPOWER
by johntradingwick
18
BTC IMMINENT CRASH! 70K TOP / FINDING ITS SUPPORT @ 52K TO 50KNO ONE CAN GO PARABOLIC, NEITHER ELON MUSK NOR BITCOIN BIG DADDY CAN GO UP WITHOUT HAVING A STRONG LEG DOWN - PERIOD. BTC GONNA CRASH @ 70K / SUPPORT @ 21W EMA / 50K TO 52K / SHORT @ 70k REASONS / INDIAN ELITE BTC SNIPER v4.0 / IN MY HUMBLE OPINION 1. BULLISH TREND - RISING WEDGE PATTERN indicating TREND REVERSAL in the mid term (as the same MAY 2021 Crash) 2. HEAD AND SHOULDERS PATTERN - formation of head and shoulders pattern 3. WYCKOFF DISTRIBUTION PATTERN / As the same Feb 21 - May 21 4. ABC correction wave Imminent / finding its support @ golden 0.618 fib around 50k -52k 5. 21 Week EMA @ 51530 at the time of publishing. 6. LONG @ 50 - 52K TILL 135K, THEN EXIT THE MARKET PROS OF BTC CRASH 1. HEALTHY CRASH FLUSHING OUT OVER LEVERAGED PLAYERS (>3X) 2. EXTREMELY BULLISH , AS SOON AS THE CRASH HAPPENS, CONSOLIDATION FOR 15 TO 25 DAYS ( JAN 2022), THEN BTC GONNA GO PARABOLIC TO 135K, FINISHING THE CYCLE AROUND 150 K @ MAR 15/22. 3. THIS MARKET CYCLE ISN'T OVER WITHOUT BTC CROSSING 100K -PERIOD. 4. THANKS TO BENJAMIN COWEN @ CRYTPOVERSE FOR HELPING ME GAIN SO MUCH KNOWLEDGE. THANK THE GOD / ALL GLORY GOES TO HIM. THANK YOU.
Short
by vign1995
Richard Wyckoff distribution bull trap 1.green box appears to signal the resumption of the uptrend but in reality is intended to TRAP uninformed break-out traders the remaining demand. 2. in phase C price goes through a decisive test of the remaining supply, allowing the “smart money” operators to ascertain whether the stock is ready to be marked down. >>if these points hold true we can take advantage with good risk/reward, we can draw a pitchfork using expanding pivots (sign of reversal) in green box. $$ valid entry could be at upper parallel of pitchfork with stop above green box and target of lower parallel (white box) >> i sold 1100 call option you can also buy a put of 1100
NSE:TECHMShort
by bossdaddy
2