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.