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Trading_hawk
Sep 1, 2021 7:43 PM

Simple Trade Setup | Voltas | 02-09-2021[positional & intraday] 

VOLTAS LTDNSE

Description

NSE:VOLTAS

Observations:

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.



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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.

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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.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade closed: target reached

everything is bonus now
Comments
sreethesh12
Hi what's the target for positional trade in this?
Trading_hawk
@sreethesh12
easy target 1100
kananisneha1994
@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
@kananisneha1994,

I prefer to book profit.

Can't say what will happen tomorrow. tomorrow is a new day and new position can be made.
kananisneha1994
@Trading_hawk, Thank you so much for the prompt response
Trading_hawk
Trading_hawk
Aadhimani
@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 ?
Trading_hawk
Hi @Aadhimani,

For this Chart of Voltas, I have drawn manually by looking at the earlier price action.

But sometimes I also use Fib retracement.
Aadhimani
@Trading_hawk, Sure. Thank you .!!!..Good luck to ya'.!
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