Simple Trade Setup | TATAMOTORS | 07-09-2021

TATAMOTORS

Observations:

1)On daily Time frame we can see that it has been trading in descending channel pattern. And it already made double bottom pattern.
Breakout of this channel on upper side will give a good up move.

Please refer below chart : daily time frame.


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Trade Setup for Date 07-09-2021:

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.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.