Simple Trade Setup | HCLTECH | 15-11-2021 [ INTRADAY]NSE:HCLTECH
Observations:
1) On Daily time frame, It just closed at 10DMA.
10DMA is placed at 1172.09 level range. If it sustain above it then we can see an upmove.
Please refer below chart : 1 day Time Frame.
1200 level is major breakout level.
1180 is immediate resistance.
Please refer below chart : 1 day Time Frame.
3) On 15min time frame, it is trading in triangle pattern. If it gives sustainable breakout of it then it will be quick buy trade. If it faces resistance from the upper line of the triangle then it will be short trade.
Breakdown of the bottom line of triangle will make it more bearish.
Please refer below chart : 15min Time Frame.
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Trade Setup for Date: 15-11-2021
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.
