1) On 1 hour time frame we can see it made higher low, while made lower low. This can be act as hidden .
Please refer Chart below: 1 hour time frame.
2) On 15min Time frame, we can see it made almost flat lows in price action, while is making higher lows. This can be act as Exagerrated .
Please refer Chart below: 15 min time frame.
Trade Setup for Date 24-08-2021:
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.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
can i hold or exit, plz suggest me a stop loss.
Before I do any analysis, as a curiosity I would like to know your reason for taking that position.
I will share my analysis for Baj Fianance by late night.
Please refer below daily chart for BAJFINANCE.
I can see 7486 level in short term.
Since you have September month expiry you can hold with your risk capacity.
Only one negative thing is that on daily chart RSI suggest 78.79 which is almost near to 80 and it might be consider as over bought.
So I can expect profit booking in coming days.
But now for any safe buy entry if it maintains to stay above 6750 level then it will be sure buy trade. So any dip above 6750 level will be buy opportunity.
Please refer below chart.
I can see it might reverse from 200DMA as above that 200DMA range it has been taking support many times.
Please refer below chart for daily time frame.
For 15min time frame buy trade it has to break this trendline and ultimate target on buy side to watch will be 995. On the short side ultimate level will be 960.
Please refer 15min time frame chart.
But for me safe entry for buy trade will be still on breakout of 1010 level. I will avoid to trade in VOLTAS till then.
above 1010 it blasted