1) On 1 day time frame, we can see it just closed at 10DMA. If it trades below 10DMA then we can see some profit booking. 10DMA is placed at 710.91 level.
Major breakout level for upmove is 720 level range.
Please refer below chart : 1 day Time Frame.
------------------------------------- Trade Setup for 10-01-2022
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.
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.
Comment
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no trade in WIPRO. as it made such big candle in starting.
trapped with CE. Any scope of recovery? Should i avg it?
Trading_hawk
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@Pravyv86, at this moment, I don't see full recovery. I will advise not to average your loosing trade.
Trading_hawk
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@Pravyv86, I will advise not to carry option position of a stock till their result day. Better to exit those position before result day. as on result day there will be totally different reaction in stock. On Daily time frame it has give closing below 100 EMA. so if it goes below and trade below then downfall may continue.