Simple Trade Setup | BEL | 25-04-2022 [INTRADAY]

24 Apr 2022

BEL


Observations:

1) On 1day time frame, we can see that it has been giving closing in range of 250-255. Breakout on any side will give good move.
But since last 4 days it has been observing selling from higher levels.

Please refer below chart : 1day time frame.


2) On 15min Time frame, we can see that it has been trading below support channel now but still in range of 250-255 range.
We can also draw short term resistance channel. Breakdown of 250 will invite more selling and breakout of 255 with resistance channel will invite more buying.

Please refer below chart : 15min time frame.


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Trade Setup for 25-04-2022

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.