Trading_hawk

Simple Trade Setup | HDFC BANK | 23-08-2021

NSE:HDFCBANK   HDFC BANK
NSE:HDFCBANK

Observation:
1) On Daily Time Frame, It made good green candle after such big gap down. And closed above 1510 level as well as it took support from 50DMA.

Please refer Chart below: Daily time frame.

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Trade Setup for Date 23-08-2021:
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 on Monday.



Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade active:
Hope you are having good profit
Trade closed: target reached:
hope you had good trade

Comments



Further upside levels.
Reply


Taking support from RSI trendline and again in that zone.
Reply


This candle has to close above that blue range.
It already broke RSI range.
Reply
Date: 26-08-2021.

It has to break RSI trendline as well as it has to break in to that consolidation zone in price. Then it will be bullish. Upper resistance will be 1560-1562. Above these range it will be more bullish.

Reply
Still not able to break 1520 level.

Reply