Trading_hawk

Simple Trade Setup | HDFC | 01-11-2021 [ INTRADAY ]

NSE:HDFC   HOUSING DEVEL FIN
NSE:HDFC

Observations:

1) On daily time frame, we can see it took support from 50DMA and managed to close above it's critical range of 2823-2828 level range.

If it gives again a dip till 2823-2828 level range and gets support then it will be quick buy trade.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date 01-11-2021:
all the levels are same as earlier provided trade setup.

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: Bonus Target reached 2904.

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