LODHA Trade Analysis for Buy using Wyckoff method

Wyckoff Story

• Prior to trading range we were in uptrend and then we have Stoping action and CHoCH (Change of character). Let’s assume our bias is accumulation based on CHoCH as we don’t see lot of supply in the CHoCH.
  

Down wave Analysis

• We can see that the volatility of the down wave is decreasing from Phase A to Phase D, confirming the accumulation Bias.
  

Volume Analysis

• We have supply decrease from Phase A to Phase C indicating supply is being absorbed.
  

Sign of Strength

• we have Major sign of strength in phase D with good demand volume indicating institutions are present in buying.
  
• The Backing Up Action (BAU) has less supply indicating sellers are absent.
  

Final View

• Bullish on stock