Simple Trade Setup |Motherson Sumi | 13-08-2021


On Daily Time frame it has broken 100DMA and and still trading below 100DMA since last 2 days.

It has trapped most of retail traders with their own sentiment that it will shoot up like a rocket on Result day like it did in previous result day.
But going in Market with sentiment is always risky.

Right now it is in Critical Zone between 220-226 levels. Also on Daily time frame it is trading in Descending Channel. Breaking of any side will give move.

Please refer below chart for Daily Time Frame.

For Positional Long Trade one can take the position if it breakout 230 level. A daily candle closed above 230 level will be good confirmation for entry.
Target will be 240-245.

For Positional Short Trade one can only take short position if it breakdown the channel.
Target will be 210-205.

On 15min chart, levels and target are mentioned for trade setup for tomorrow intraday, 13-08-2021.
Hope Chart and levels are easy to understand.

All the levels will work as support, resistance, entry & target w.r.t price action near that level tomorrow.
Don't jump in early market noise. Wait for 15-20 minutes and then judge the price action.

Do comment your doubt or suggestion.

All the best for tomorrow.