Simple Trade Setup | SUNPHARMA | 22-10-2021 [ INTRADAY ]

21 Okt 2021

SUNPHARMA

Observations:

1) On 1 day time frame, it hold and closed above 21DMA. 21DMA is placed at 811.67 level range.
Level range from 810-812 will work as good support now.
Breakdown of it will lead it to down move.

Please refer below chart : 1day Time Frame.


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Trade Setup for Date 22-10-2021:

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.