Simple Trade Setup | INDUSINDBK | 27-10-2021 [INTRADAY]

INDUSINDBK

I am posting this on request from a follower on Twitter.

Observations:

1) On 1 Day time frame, It failed to manage above 1200 level and then it is facing profit booking.
A bit negative thing is that it closed below 21DMA which is placed as 1164.97 level.
So we can consider that 1165-1170 will work as resistance zone.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date 27-10-2021:

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.

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