Simple Trade Setup | HDFCBANK | 23-05-2022 [INTRADAY]NSE:HDFCBANK
Observations:
1) On 15min Time frame, we can see it gave breakout of resistance trendline.
Please refer below chart : 15min time frame.
Also we can see that range of 1330-1335 will be a neutral range if price is trading above it then it will be provide support and if price is below it then it will work as resistance.
Please refer below chart : 15min time frame.
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Trade Setup for 23-05-2022
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.
