Trade Idea for Hero MotoCorp Based on Wyckoff Analysis:

Wyckoff Phases:

• PS (Preliminary Supply): Bearish phase at 3757.65.
  
• SC (Selling Climax): Sharp drop to 3461.60, potential turning point.
  
• AR (Automatic Rally): Rally from 3461.60 to 3757.65.
  
• ST (Secondary Test): Tests support at 3461.60.
  
• Spring: Brief dip below support, confirms demand.
  
• LPS (Last Point of Support): Price at 3711, last support test.
  
• SOS (Sign of Strength): Breakout above 3711, bullish signal.
  
• Breakout: Above 3757.65, ready for upward move.
  

Bullish Scenario:
Entry Point:

• Since the price is at 3758, it is near the Preliminary Supply level and still in a strong position for a breakout above the 3757.65 resistance.
  
• Best entry could be on confirmation of a breakout above 3800 (Breakout of Structure) or after a pullback to 3711 (Last Point of Support, LPS) if it holds.
  

Stop Loss:

• Place your stop loss below the support zone at 3461 to give room for volatility. Alternatively, if you enter on a pullback near 3711, you can set your stop just below 3711 (around 3650-3700).
  

Target:

• T1: 3938.85
  
• T2: 4080
  
• T3: 4208.10
  

Bearish Scenario:

• If the price fails to break above 3800 and starts to show weakness, it could retest the LPS level at 3711 or fall lower. If the price breaks 3711 and does not hold, a short trade could be considered.
  
• Stop Loss for short trade: Above 3800.
  
• Target for short: Potential downside to 3461 or lower if the support breaks.
  

Disclaimer:
The information provided is for educational purposes only and does not constitute financial or investment advice. Trading and investing carry significant risks, and past performance is not indicative of future results. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions. The author assumes no responsibility for any losses or damages resulting from the use of this information.