Simple Trade Setup | NIFTY | 15-11-2021 [ INTRADAY]

12 thg 11, 2021

NIFTY

Observations:

1) On daily time frame, it finally closed above 21DMA. Which is a positive sign. But for up move it has to sustain above it.
21DMA is placed at 18083.82 level.

Please refer below chart : 1 day Time Frame.


2) Also on Daily time frame, it opened above support line and closed above the support line with good bullish candle.
This trendline will still work as major support trendline.

Please refer below chart : 1day Time Frame.


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Trade Setup for Date: 15-11-2021

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.