Simple Trade Setup | INDIGO | 28-12-2021 [INTRADAY]

Dec 27, 2021

INDIGO

Observations:

1) On 1 day time frame, after taking support and making bullish move from 200DMA, today it closed above 100DMA.

100DMA is placed on 1970.19 level. This will now work as support.

Please refer below chart : 1 day Time Frame.


2) Also on 1 day time frame, we can see that is forming double bottom pattern and if it sustain above the neckline which is above 2025 level range then it will be bullish.

Please refer below chart : 1 day Time Frame.


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Trade Setup for Date: 28-12-2021

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 respective level considering how price action works near that level.