Trading_hawk

Simple Trade Setup | INFOSYS | 25-10-2021 [ INTRADAY]

NSE:INFY   INFOSYS LTD
NSE:INFY

Observations:

1) On daily time, we can see that after 3 days of profit booking, it took support from 50DMA and managed to close above it.

Also, if you remeber earlier, level of 1700 is major critical support.
As far as it is giving closing above it, it has chance to start bullish run again.

Major immediate resistance is at 1760 level.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date 25-10-2021:

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.