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PAYTM -- INTRADAY SETUP- 06/06/2022

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PAYTM -- HOURLY CHART -- INTRADAY SETUP -- 06/06/2022

1. PAYTM trading currently at upper channel on hourly chart

2. trendline seen consecutive support at lower level, stock currently close at trendline support closing candle where bounce back likely seen on next trading session .

3. for buy level stock should cross level 625 as trendline breakout on next trading session where target upper side can seen above 635-640 level,

4. if trendline breakdown bellow 615 level stock will seen downside target bellow 600 level on intraday

5. overall stock will be uptrend if 15 min closing candle above 625 or downtrend if 15 min candle bellow 615

6. positive in fvr of uptrend is histogram seen double bottom means supply can be decrese from current level and more fvr of uptrend from current level

7. RSI abobe 50 level at daily basis as neutral to positive

** THIS IDEA IS FOR EDUCATIONAL PURPOSE .. trade at owb risk !

HAPPY TRADING. !!

註釋

EDUCATIONAL TIP : Y candle need to close above or bellow level?

for e.g : stock hit above buy level only pinbar seen and it can go bellow the buy level fraction of second cause on intraday high volume stock volatility is high so that breakout can be false breakout, for confirmation we take candle of 15 min and wait for candle close above or bellow of trade setup and then initiate buy or sell position
so that breakout or breakdown will be confirmed.

註釋

*** other technical indicators
>> MACD above center and signal line on daily chart --BULLISH
>> Stock trading above 200 SMA on hourly chart.

註釋

intraday support 620
intraday resistance 645

註釋

last closing candle on daily chart ----hiekin ashi HAMMER CANDLE ---( bullish trend reversal candle)

註釋

preopen 616 at 9.7 am buy only above 625
sell bellow 615

註釋

after sell bellow 615 ..low was 603-604 level .

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for sell resistance 625 --above 625 bullish

註釋

accumulation seen at 615 level now.

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paytm intraday --- 08/06/2022-- 9.45 am

HOURLY CHART BREAKOUT buy 618
target 625-630-640

stop loss bellow 605

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intraday target 625-630--635 HIT

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INTRADAY FINAL TARGET 640 HIT ---

註釋

10.25 AM --08/06/2022

註釋

paytm fails to close above 625 on closing basis last few session , today support level 603 broken and stock close bellow 603 bearish candle hourly chart , if stock open bellow 600 level on monday 10/06/2022 , downside target 580-575 can seen on intraday . !

10/06/2022