Trading_hawk

Simple Trade Setup | HAVELLS | 20-08-2021

NSE:HAVELLS   HAVELLS INDIA
NSE:HAVELLS

Observations:
1) On 30min Time Frame, It has been taking support from parrallel accending support zone from long time. And it closed just above that upper trendline.

Please refer Chart below: 30min time frame.

2) On 1hr time frame, it is making accending triangle pattern . Breakout of 1260 level on hourly time frame will give good up move and can be also buy entry for positional buy trade.

Please refer Chart below: 1hr time frame.

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Trade Setup for Date 20-08-2021:
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 target w.r.t price action working near that level tomorrow.



Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade active: Going bullish.

Comments

Trading_hawk balaganinaveen5
Thank you @balaganinaveen5,
Reply
Thanks really learnig out the importance of stocks and following levels .
+1 Reply
Trading_hawk saurabhbakliwal1001
@saurabhbakliwal1001,

I am glad that my ideas are helping you to learn levels.
🙏
Reply
Is the trade still bullish broke 1240 again
+1 Reply
Trading_hawk saurabhbakliwal1001
@saurabhbakliwal1001,

Yes

I am bullish on Havells.

I can see 1260 level easily by today or on Monday.
Reply
@Trading_hawk, I entered on long side
Reply
Trading_hawk saurabhbakliwal1001
@saurabhbakliwal1001,

One reason is that in option chain data most of call writing is now getting unwinded.
If it close above 1260 then we can see 1280 level.
Reply
Trading_hawk saurabhbakliwal1001
@saurabhbakliwal1001,
but I will re-enter in the trade once it breaks the 21DMA on 15min time frame.
Reply
@Trading_hawk, Have entered already...
Reply