Simple Trade Setup | DABUR | 11-11-2021 [ INTRADAY]

DABUR

Observations:

1) On daily time frame, it took support from 21DMA and bounce from it.
21DMA is placed at 600.85 level.
We can say that 600 level is major support.

Please refer below chart : 1 day Time Frame.


2) On 1hr time frame, we can see that it is making cup and handle pattern.
Breakout level is 610 level and major breakout level is 620 level.

Please refer below chart : 1hr Time Frame.


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Trade Setup for Date 11-11-2021:


1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.