Simple Trade Setup | GODREJCP | 10-01-2022 [INTRADAY]

GODREJCP

Observations:

1) On 1 day time frame, it has been successfully trading above 50DMA.
But it is still below 100DMA.
50DMA is placed at 937.85 and 100DMA is placed at 992.77

Please refer below chart : 1 day Time Frame.

2) On 1 hr time frame, it has made bullish flag and pole pattern.
If it gives breakout of it and patterns get activated then we can see a good move.

Please refer below chart : 1hr Time Frame.

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Trade Setup for 10-01-2022

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.

Trade closed: target reached: