Simple Trade Setup | GODREJCP| 22-12-2021 [INTRADAY]

Dec 21, 2021

GODREJCP

Observations:

1) On 1day time frame, it bounce perfectly from the 200DMA with increased in Volume.
Immediate resistance is at 950 level.

200DMA is placed at 900.04 level. Which will now work as major support.

Please refer below chart : 1day Time Frame.


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Trade Setup for Date: 22-12-2021

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.