Simple Trade Setup | BEL | 08-02-2022 [INTRADAY]



1) On 1 day time frame, we can see it closed just below 100EMA on daily time frame.
100EMA is placed at 202.62 level.

If it trades above it the we can see bounce back from here. Immediate support is at 200 level.

As per recent history, it has very low tendency to trade below 100EMA.

Please refer below chart : 1day Time Frame.

Trade Setup for 08-02-2022

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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