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Positional

Simple Trade Setup | PNB NSE:PNB I am posting this on request from a follower on Twitter. Observations: 1) On 1 Day time frame, we can see that it has support at 44 level and resistance at 46 level. And it closed just below the resistance level. If it gives sustainable breakout of 46 level and sustain above 46 then we can see further up move till 48 and 50 level. But if it faces resistance from 46 level then we can see a downfall till 44 level. My personal opinion is that better to trade with equity in this at this moment with positional trade. Please refer below chart : 1day Time Frame.
NSE:PNB
by Trading_hawk
Simple Positional Trade Setup | MCX | short-mid termNSE:MCX Observations: 1) On Daily time frame, we can see now it is back to the level range which was earlier working as resistance and it was breakout level. Now it has come to test this and if it sustain and gets support then this range will work as support level. We can see good bounce back and the bullish up move can re-start again. Please refer below chart : 1day Time Frame. 2) On Daily Time frame again, if we apply FIB RETRACEMENT levels then we can see that it is resting just above the 61.80% level range. There are chances that the down trend will reverse now and the up trend will continue as generally at this 61.80% most of the time retracement of uptrend gets over. Please refer below chart : 1day Time Frame. ----------------------- Positional Trade Setup 1 : One can take long position from CMP with SL of 1750 and target of all above levels. 2 : If one wants to take safe position then one can take position after it gives sustainable breakout of 1855 level. SL will be 1800 and all above levels will be targets. 3 : One can take short position if it give breakdown of 1750 level with SL of 1790 level and target of 1696 and 1650. 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.
NSE:MCX
by Trading_hawk