Simple Trade Setup | Bajaj Finance | 10-08-2021


Simple Trade Setup

If it opens in no trading zone then wait for first 15-20 minutes to let the early trading noise get settled.
Once it break 6230 level or trendline then it will be entry for buy trade. But a 15min candle breakout of this is required and it should be followed buy 2 - 5min candle trading above this level.
Don't jump in to trade at early. Let it get settled.

But if it breaks down 6180 level then it can be entry for sell side but safe sell trade entry will be breakdown of 6150 level with 15min red candle.

All other levels will work as target, resistance, support, entry & exit point w.r.t to how price action is working tomorrow near that level.
On Daily Time frame, today it has closed just above 21DMA. 21DMA is placed at 6190 level. Which is a good sign.
So far it has been taking support from 21DMA on daily time frame.
Also it has been following trendline and taking support from it on daily time frame.

Refer below chart.

Tomorrow, 10-08-2021, will be good day to observe and take the trade as per trade setup only and trade with SL.

Do comment your doubt or suggestion.

all the best.


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