Trading_hawk

Simple Trade Setup | ABFRL | 03-09-2021[INTRADAY & POSITIONAL]

NSE:ABFRL   ADITYA BIRLA FASH
NSE:ABFRL

Observations:

1) On Daily Time frame you can see that it gave rounding bottom pattern breakout on 02-09-2021.

Please refer below chart : Daily time frame.

2)Also, on Daily Time frame you can see that it has critical level of 220 which was working as resistance many times before. For new buy entry this 220 level needs to be breakout.
And from 21 DMA it took good support.

Please refer below chart : Daily time frame.

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For POSITIONAL trade one can take safe long position only on sustainable breakout of 220 level. SL will be 210 and Target will be 240 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.

Please refer below chart for levels.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.