I had provided a trade setup of SUN PHARMA for 12-08-2021. But trade was never get activated as it didn't came to level as per our trade setup.
I have provide the link of that trade setup in the link at the end of this.
So if you keep just the levels from that trade setup even on 13-08-2021 then How you could have made trade in SunPharma on 13-08-2021.
On 13-08-2021 it was time to use ORB Strategy. .
What is ORB Strategy?
In layman's term: If the opening candle make a range with both side wick rejection and a medium body and after that the stock trades between that range then we will just wait until it breaks on either side of that range to take the buy or sell trade.
Now here in SUNPHARMA , the opening 15min candle made high 779.70 and low of 767.75 and then it was trading between this range.
To take the trade, we need to wait till that either side of level gets break.
In this case it broke higher level of 779.70 and also as per earlier trade setup 780 was our entry level for buy trade so on the candle of 10:50 using 5min time frame we found breakout of it. And it gave us easy target of 786 as per earlier trade setup. Link is provided below for the earlier trade setup for Sun Pharma .
If the opening candle's low was broken down then it will be the sell trade and the target will be as per our earlier trade setup for sell side.
Hope I make it easy and simple to understand ORB.
Do comment your suggestion or doubt.