Intraday Trade Logic in HDFCBANK on 13 Dec 2021

Intraday Trade Logic in HDFCBANK on 13 Dec 2021

While watching out chart pattern in daily basis or hourly basis i got 2 position to trade :-
  • Buying
    short Selling


After Watching out Feb 2 ,24 , March 4 ,9 candles i got Buying level i.e 1538 , As the price is sustaining the above level it was giving good RR wise proit
But As today market opened below the level (1538) i tried to watch if any i get S.S opportuniy and i got it

Similary ,
As if the price was sustained above 1538 we get good upmove wise versa if price below it good get downward good move.

watching out March 31 , Jul 8 , Aug 18 , Nov 22 , 24 , Dec 3 , 9 i got

Entry Point i.e :- 1536
SL :- 1538
Target 1520.05
Expected Target : between 1509-1505.15

Logic Behind Trailing Stoploss :- If we watch Dec 10 th opening Candle purely it's been rejected from our expected levels

Trade Executaion:-
5 min TF:-
Today Market opend below the levels . opeing candle formed with good volume
At 10:10 to 10-20 it was seen that candle is not sustaining the above levels but trade must be taken after double confirmation that's my thought process.lol
watch out volume of the 10:45 candle that sustained above 1536 is less than the previous candle

Now, i got double confirmation for shorting at 10:55 candle which has more sellers volume
so took the entry after the candle close i.e at 11 AM candle
Exited at 1509
Check out RR Ratio

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