Trading_hawk

Simple Trade Setup | INFOSYS | 02-11-2021 [ INTRADAY]

NSE:INFY   INFOSYS LTD
NSE:INFY

Observations:

1) On daily time frame, we can see it has been taking resistance from 50DMA.

50DMA is immediate resistance and placed at 1711.50 level.

Please refer below chart : 1 day Time Frame.

From chart we can see that range of 1710-1720 is critical resistance zone .
Sustainable breakout of it will make it bullish again.

Please refer below chart : 1 day Time Frame.

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Trade Setup for Date 02-11-2021:

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.