Simple Trade Setup | SAIL | 16-09-2021

STEEL AUTHOR INDIANSE

Description

⋅ Sep 15, 2021 6:31 PM

NSE:SAIL

Observations:

1)On Daily Time frame: It has been facing resistance from 21DMA and is not able to close above it. Currently 21DMA is placed at 121.48 level.

Please refer below chart : Daily time frame.

2) On daily time frame: It has been respecting the support zone and keep on taking support from it. Support Zone if from 118.55 to 120 level.

Please refer below chart : Daily time frame.

3) On 1hr time frame it has been trading between 118.60 to 123.75 level since more than 7 days. Breakout of any level will give move on respective side.

Please refer below chart : 1 hr time frame.

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Trade Setup for Date 16-09-2021:

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.

Trade closed: target reached

⋅ Sep 17, 2021 11:52 AM

Comments

Trading_hawk

⋅ Sep 17, 2021 11:52 AM

Short side target reached.

monseiurdave

⋅ Sep 19, 2021 2:33 PM

@Trading_hawk it have closed on 115 what is target at lower side?

Trading_hawk

⋅ Sep 19, 2021 2:56 PM

@monseiurdave,

I think it will consolidate a bit.

115 is a critical support in few days. If it gets proper demand from here then it will be bullish again but on sustainable breakdown of 115 can lead it to 112-110 level easily.

sagarperam

⋅ Sep 16, 2021 10:21 AM

sir pls tell about laxmi organics tomarow

MrReddy24

⋅ Sep 16, 2021 5:13 AM

DELTACORP??

Trading_hawk

⋅ Sep 16, 2021 5:16 AM

@MrReddy24,

I would like to know your position in DELTACORP. Are you holding any position in it?

MrReddy24

⋅ Sep 16, 2021 8:26 AM

yes.I bought 55 qty around 209 .I got a profit around 1.7k .What to do now ,Hold or sell??

Trading_hawk

⋅ Sep 16, 2021 8:28 AM

@MrReddy24, Just follow the level and price action. Accordingly you can book the profit or hold. I can't tell everything to do.

Trading_hawk

⋅ Sep 16, 2021 8:28 AM

You have to start making decisions for your own trade. @MrReddy24,

Trading_hawk

⋅ Sep 16, 2021 8:48 AM

@MrReddy24,
Oh sorry, I completely replied on wrong comment. Let me check for Delta Corp.