Simple Trade Setup | TATAMOTORS | 04-10-2021 [Intraday]

TATAMOTORS

Observations:
1) On 15min time frame, we can see that on Friday,01-10-2021, it just closed above the upper trendline of parallel channel.
If it gets support from this upper trendline then it will be bullish but if it breakdown then it will be bearish and in worst case it can go till the middle trendline of parallel channel.

Please refer below chart : 15 Time Frame.

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Trade Setup for Date 04-10-2021:

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.

4) Avoid gap up or gap down chase. Wait and trade between levels.

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. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.