TCS
Observations:
1) On 1day time frame, we can see 3645 is immediate major support level.
And 3680-3700 is no trade zone. Above this zone it will be bullish and below this it will be bearish till 3645.
Breakdown of 3645 will lead it to more bearish.
Please refer below chart : 1day time frame.
2) On 1hr time frame, it is forming head and shoulder pattern, which is a bearish pattern.
Neckline we can consider at 3645 level only.
If this pattern gets active then we can see fall only on 3645 level breakdown.
But sometimes, pattern fails.
Please refer below chart : 1hr time frame.
Trade Setup for 13-04-2022
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.
This is only for Intraday.
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 respective level considering how price action works near that level.
