Simple Trade Setup | DABUR | 10-12-2021 [ INTRADAY]

9 Dis 2021

DABUR

Observations:

1) On 1Day time frame, it has regained the 200DMA and closed above it.
200DMA is placed at 576.08 level.
Level of 575-576 will work as immdiate support now.

Please refer below chart : 1 day Time Frame.


2) Also on 1 day time frame we can see that breakout level is at 583 and immdiate resitance is at 580 level.

Please refer below chart : 1 day Time Frame.


3) On 1hr time frame, we can see that it is forming rounding bottom pattern.
Breakout of it will give good upmove.

Please refer below chart : 1 hr Time Frame.


4) On 15min time frame, we can see that it gave breakout from parallel channel. But it this breakout sustain then we can see the bullish movement.

Please refer below chart : 15min Time Frame.


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Trade Setup for Date: 10-12-2021

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.