Trading_hawk

Simple Trade Setup |NTPC | 18-10-2021 [INTRADAY & POSITIONAL]

NSE:NTPC   NTPC LTD
NSE:NTPC

Observations:
1) On 1 day time frame, we can see that as per FIB retracement immediate resistance is at 149.50.

Please refer below chart : 1day Time Frame.

But level range of 150-150.30 will work as resistance.
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One can initiate safe long trade only on sustainable breakout of this range.
For long positional trade for short to mid term targets will be 154, 158 and 162

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Trade Setup for Date 18-10-2021:

Most of the levels will remains the same as per previous setup.

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.