Simple Trade Setup | HINDALCO | 02-09-2021

HINDALCO INDSNSE

Description

⋅ Sep 1, 2021 8:54 PM

NSE:HINDALCO

Observations:

1) On Daily Time frame you can see that it has followed FIB levels perfectly and immediate critical support level is 458.

Please refer below chart : Daily time frame.

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Trade Setup for Date 02-09-2021:

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 tomorrow.

Please refer below chart for levels.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade active

⋅ Sep 2, 2021 7:25 AM

Comments

Trading_hawk

⋅ Sep 2, 2021 7:25 AM

Fresh buy entry on breakout of 460 or one can enter from CMP with SL of 454

Trading_hawk

⋅ Sep 2, 2021 5:24 AM

For fresh buy entry it has to breakout above 460 level and also RSI has to break the trendline shown in below image. chart is in 5min time frame.