Trading_hawk

Simple Trade Setup | NTPC | 14-09-2021

NSE:NTPC   NTPC LTD
NSE:NTPC

Observations:

1) On Daily Time Frame, we can see that it faced resistance from 21 DMA. Which is placed at 115.60.

Please refer below chart : Daily time frame.

2)On 1hr Time Frame: It has been trading with taking support from parallel channel .

Please refer below chart : 1hr time frame.

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Trade Setup for Date 14-09-2021:

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.