CASTROLIND Trade Analysis for Buy using Wyckoff method

Wyckoff Story

• Prior to trading range we were in uptrend and then we have BC 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 C, confirming the accumulation Bias.
  

Volume Analysis

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

Spring

• We have spring in Phase C
  

Major Sign of Strength

• we have MaSOS in phase D with good volume indicating institutions are present in buying.
  

Final View

• Bullish on the stock