Simple Trade Setup | DABUR | 24-12-2021 [ INTRADAY]

23 dic 2021

DABUR

Observations:

1) On 1day time frame,it is still trading below 200DMA. It made rounding bottom formation as well and immediate breakout range is 570-572 level.

It may come till 200DMA to test it. If it gives sustainable breakout of this 200DMA then it will be bullish in upcoming days.
200DMA is placed at 579.13, hence we can say major resistance is at 580 level range.

Please refer below chart : 1day Time Frame.


2) On 15min time frame, we can see that it is trading in rising parallel channel. And it is taking support from the the bottom trendline of it.

Please refer below chart : 15min Time Frame.


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Trade Setup for Date: 24-12-2021

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.