AUBANK
Simple Trade Setup | AUBANK | 11-10-2021 [ INTRADAY]NSE:AUBANK
Observations:
1) On 1 day time frame, we can see that it took support from 50DMA and closed above it. 50DMA is placed at 1211.53 level.
Critical resistance level is at 1250 level and critical support level is at 1200 level.
Please refer below chart : 1day Time Frame.
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Trade Setup for Date 11-10-2021:
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.
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.
Long AUBANK: Rejection from monthly resistance, volume pickingupHello Traders,
AUBANK can be a good trade at the moment.
Its closing price on Friday was 1182
It can be traded as follows:-
Entry price 1191
SL: 1123
Target: 1293
Supporting pointers:-
Recent rejection from monthly resistance levels of 1142 and 1123
Volume picking up
AU BANK POSITIONAL TRADEAs you see in there is a strong resistance of 1203 in the AU Bank Stock,
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In starting of 2020 touch the level of 1203 and then reverse and yesterday AU Bank touch and market closed.
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But now there is high volume so two thing can happen in this case.
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1. Maybe AU Bank will break the 1203 level and touch the target of 1300-1323.
2. Maybe AU Bank can be rangebound or give some correction and then goes up.
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Let see what will happen, what's your view on this comment below in the box.
Bulls back to work with AU small Fin.Again one breakout done with AU in the Last 20 Trading session
Views for long term NSE:AUBANK
indicator and rating
RSI (59.02)
Buy rating- 4.5
Neutral Rating- 0.5
sell rating -0
MA/ EMA cross over
(Near to have positive Trajectory ) Bullish
MACD (-0.90 positive direction)
Buy rating 3
Neutral Rating 1
sell rating 1
AUBANK - Contraction pattern below a very good support trendline🔰 MY thought process :
⭐Elliot waves for the uptrend ended while giving it an ATH now it has broken a serious trendline = downtrend but it's on its monthly support zones which were used to be resistance zones :)
⭐Also at 0.3 fibo so and making a good contraction pattern below the good uptrend line and 50dema, A buy would be initiated if it breaks the consolidation with power :)
⭐Risk will be: if it breaks the trendline for below = SL, Targets : at least ATM
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :)
Also keeping an eye on JSW steel too seems bullish to me :), All the analysis already posted :)
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
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FY21-22 Swing Trade Idea #6 : Long on AUBANK This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.