Simple Trade Setup | HAVELLS | 25-10-2021 [INTRADAY]NSE:HAVELLS
Observations:
1) On daily time, it is stucked between 50DMA and 100DMA.
Good thing is that it took support from 100DMA.
On 22 Oct it made doji candle and also gave close above 1280 level which was earlier resistance and breakout level.
If it maintain above 1280 level then this level will be now support level and we can see bounce back from this level.
Please refer below chart : 1day Time Frame.
2) On 15min time frame, we can see bullish divergence. As price is making alomst flat lows while RSI is making higher lows.
Please refer below chart : 15min Time Frame.
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Trade Setup for Date 25-10-2021:
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.
