Observations: 1) On Daily Time frame, it broke 10DMA on 23-09-2021 and on 24-09-2021 it took support from it and closed with green candle.
It has a characteristic to not to stay below 10 DMA for long time untill and unless there is some negative news about it.
Please refer below chart : Daily time frame.
2) On 30min time frame, it has made double bottom pattern and gave breakout. Next critical resistance is 2850 level. [For positional trade] Sustainable breakout of 2850 level will make it bullish till target of 2900-2930 level for short to mid term.
Please refer below chart : 30 min time frame.
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Trade Setup for Date 27-09-2021:
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 respsective level considering how price action works near that level.
Hdfc reached 2869 ..good View.
Can you please share view on Appollohospitals and pfizer
Trading_hawk
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@swathikonakanchi,
Pfizer, 5700 is resitance, and 5600 is support, breakout on any side will give movement on either side.
But my personal view is to wait for 5700 breakout to go long till 6000 level in short - mid term positional trade.
Trading_hawk
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@swathikonakanchi,
Apollo hospital, 4500 is critcal support, as far as it hold above it it is bullish. Breakdown of 4480 level will lead it to 4330 level and it may reverse from 4330. But if it fails then it will be again short trade till 4100 level.
Hdfc reached 2869 ..good View.
Can you please share view on Appollohospitals and pfizer