1) On Daily Time frame you can see that it has taken good support from 1010 level and blasted from it with good bullish candle.
Please refer below chart : Daily time frame.
------------------------------------- For POSITIONAL trade one can take long position from CMP as well as any dip above 1010 level will be good buying opportunity. SL will be 990.
-------------------------------------
Trade Setup for Date 02-09-2021:
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 tomorrow.
@Trading_hawk, Should we be in this trade for tomorrow also as I can see that from past 5 days a green candle is made. Is there a possibility of any red candle tomorrow
I am holding 1100 CE at 24
@Trading_hawk, Could you please clarify how you draw those support and resistance lines ? Have you taken them from Pivot Ponits and Fibonacci retracement ? Or Have you drawn them manually by looking at the price movement ?