Simple Trade Setup | NTPC | 15-09-2021

Sep 14, 2021

NTPC

Observations:

1)On 1 hr time Frame: It has been trading in the parallel channel. Sustainable breakout from this channel will give upmove atleast till 117.50 easily.

Please refer below chart : 1 hr time frame.


2)On Daily Time frame: It has crossed above 21DMA and previously it has reversed from 100DMA. 21 DMA is placed at 115.44 level. If it able to hold above 21DMA(115.44 levels tomorrow) then we can see an upmove till 117.50 easily.

Please refer below chart : Daily time frame.


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Trade Setup for Date 15-09-2021:

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.

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.

Sep 15, 2021

Trade active

Sep 15, 2021

Trade closed: target reached