Simple Trade Setup | BHEL | 20-08-2021

BHEL

Observations:
1) On One Hour Time Frame, it just broke the trendline and closed above it.

Please refer Chart below: One Hour time frame.


2) On Daily time frame, it took support from the critical Zone bottom level.

Please refer Chart below: Daily time frame.


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Trade Setup for Date 20-08-2021:
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 target w.r.t price action working near that level tomorrow.



Hope I made it easy to understand it.

Do comment your doubt or suggestion.