JSW Steel Accumulation: Wyckoff Events

8 апр. 2020 г.

JSW Steel Accumulation: Wyckoff Events
Stock is Fallen from 290 to 150 and taken the Preliminary support and bounce till 180.where substantial buying begins to provide pronounced support after a prolonged down-move. Volume increases and price spread widens, signaling that the down-move may be approaching its end.

After this bounce price corrected till 130 and form selling climax ( SC ) in this Phase the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. Often price will close well off the low in a SC, reflecting the buying by these large interests.

Then Stock bounce till 150. this rally is know as Automatic rally, which occurs because intense selling pressure has greatly diminished. A wave of buying easily pushes prices up; this is further fueled by short covering. The high of this rally will help define the upper boundary of an accumulation Trading Range.

after bounce back to 150 level price again tested 135 levels and consolidated in this range i.e. 135 to 150 during this range volume dried out and completed Phase A and Phase B.

During 3rd march 2020 price broken the support and corrected till 131 levels. on 7th April 2020 price sharply rally from bottom and completed the phase C.

Today Stock has checkout with volume from Trading range moved up sharply till 170 in morning this is sign of strength, and close at around 155 ,

As per My View price is trading in Phase D.

If I am correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, as well as reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions.