Simple Trade Setup | TATAMOTORS | 03-09-2021

2. Sept. 2021

TATAMOTORS

Observations:

1) On Daily Time frame you can see that on 01-09-2021, it has breakout 21DMA and today on 02-09-2021, it just closed above 21DMA. 21DMA is placed near aprox 293.20 level.

Tomorrow if it remains and trade above this range then on breakout of 295 level it will give good bullish up move.

Please refer below chart : Daily time frame.



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For POSITIONAL trade one can take safe long position only on breakout of 300 level. SL will be 285 and Target will be 340 in short/mid term.

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Trade Setup for Date 03-09-2021:

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 tomorrow.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.