Simple Trade Setup | SAIL | 16-08-2021

Aug 14, 2021

SAIL

On daily time frame it has taken support from 50DMA range on 11 Aug and 13 Aug.
And on 13 Aug, it closed above 21DMA and 50DMA. This is a sign of reversal is coming in trend.

Please refer below chart.

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And If you see, since Novemebr 2020 it has traded below 50DMA for very less time and 50DMA range is working as good support level and reversal.
It could be good positional trade if it closes above 136. Positional Buy Trade Target will be 150.

So from Daily time frame we can see there might be the chance of reversal of the trend.
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Simple Trade Setup | 16-08-2021

On 15min time frame it made a rounding bottom pattern. If it breakout this pattern succefully then we can see uptrend in this stock.
Indicator to use.
1) RSI (14)
2) 50MA
3) 21MA

Time Frame: 15min (in general) and 5min(during the trading to check the price action once it breaks the levels).

Things to observe and Action to take.
1) Avoid trading for initial 15-20 min and let it get settled. Don't jump in to trade even if it is moving quick up or down.
2) If it opens above 135 and trade above 135 and takes support from 135 then need to check RSI if it really breaks that trendline on RSI and stays above it. Then 135 level will be the entry for buy Trade with quick target of 137.
3) If it opens above 135 and breakdown 135 level then wait till it goes to 50MA on 15min time frame and from 50MA it takes support from but then it faces resistance from 135 level and at the same time if RSI is facing resistance from that trendline then it will be confirm short trade with SL of 136.50.
But if it breakout 135 level and RSI is above that trendline then it will be confirm buy trade with SL of 133.50. All the marked levels will work as target.
4) If it opens between 133-135 then breakout of either side will give quick trade and in that RSI has to breakout that trendline for buy trade or RSI has to break down that trendline for short trade.
5) Safe Buy trade entry will be breakout of 137 level.
6) Safe sell trade entry will be breakdown of 133 level with 50MA on 15min time frame.

Hope I made it simple to understand it. Chart and levels are easy to understand.

Comment your doubt or suggestion.

All the best for next week.

Aug 16, 2021

Trade active

Still it couldn't breakout 137 level.