Simple Trade Setup | BPCL | 27-08-2021

BPCL

Observations:
1) On Daily Time frame Yesterday it broke 50DMA and today it took support from 50DMA.

Please refer chart below : daily time frame.


2) On Daily Time frame: Also it breakout the range today.

Please refer chart below : daily time frame.



-------------------------------------

Trade Setup for Date 27-08-2021:

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 tommorrow.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.