Trade Setup for Date 23-09-2021:
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.
1) On Daily time frame it reversal and break 21DMA and closed above it. But it is below it's nearest resistance range of 410-415.
Please refer below chart : daily time frame.
2) On 1hr time frame, you can see this resistance range 410-415 giving resistance multiple time and only one...
A Hammer pattern is seen on the hourly timeframe.
Even though we can see a ascending triangle, the bullish volumes are reducing.
A long can be possible only when we can see it above 407-408 levels.
A Short can be possible when it breaks the trendline and till T1-393, T2-383.
Next week can help us get more info on this.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
The above references as an opinion and is for information purposes...
Set your stop loss of approx 50 rupees in NSE:AMBUJACEM as it is on its weekly breakout it may give you a very big profit in an uptrend.
Set Your target by trailing stop loss. Move forward as the stock will go further.