Simple Trade Setup | TATAMOTORS | 12-08-2021


Simple Trade Setup

It is remaining in the range between 305 - 290.

Today, 11-08-2021, it recovered well in 2nd half session.

Hope Chart and levels mentioned are easy to understand.

Safe buy trade will be only above breakout of 300 level. Safe short will be below 295 level.

If it opens gap up between 295-300 then either side of breakout will be an entry for sell or buy trade. But a 15min candle should break this level and next candle should give sign of the following buy or sell in the price action. But if it faces support from 295 then it will be entry for buy trade and if it faces resistance from 300 level then it will be entry for sell trade. In this 295-300 range trade will be quick.

If it opens gap down below 295 and then it went up and breakout 295 level then it will be also an entry for buy trade. But if it faces resistance from 295 then it will be entry for short trade.

If it opens above 300 level then let it go down and take support from 300 level and then it will be buy trade once it takes support from 300 level. And it it breaks the trendline above then it will be also an entry point for buy trade.

Hope I made it easy to understand.

Do comment your doubt or suggestion.

All the best.
Trade closed: target reached


Excellent analysis!

I guess we may have some more trades next week on Tata Motors based on Price Action.
Trading_hawk champvimal
@champvimal, Thank you for your comment.

Let's see how price action works on Monday
Price action and Levels worked perfectly.

Hit target till 307.

hope you had good trading today.

Facing resistance from this trendline.

if consolidation happens then our job is to keep eye on breaking levels on either side to take trade and make money in that movement
is there any chance of consolodation between 295-300.

hi let's not go with presumption or sentiment. let's see how price action is working tomorrow.