Simple Trade Setup | TATAMOTORS | 09-11-2021 [ INTRADAY]

8. Nov. 2021

TATAMOTORS

Observations:

1) On daily time frame, we can see it took support from 10DMA and sustain above it.
10DMA is placed at 490.08 level.

Please refer below chart : 1 day Time Frame.


2) On 1hr time frame, we can see that it gave breakout of the trandeline and managed to get support from the base of 470-480 level range. If this breakout sustain then we can see upward move again.

Please refer below chart : 1hr Time Frame.


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Trade Setup for Date 09-11-2021:

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.