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SUNTV

2 KEY QUESTIONS TO BE ASKED IN EVERY TRADEWhenever you see a higher time frame chart you should ask 2 questions -- 1) What trend is the market in ?? 2)where are major levels of structure that you should be paying attention to - in that direction ? SO in the chart i have shown above, the answers are following 1) Trend is bearish 2) Major levels of support and resistance are drawn in Horizontal blue lines How did i draw blue Horizontal blue lines ?? Those blue horizontal lines are levels of support / reistance which has been tested atleast 3 times So i shall now proceed to tell you the story of SUNTV So Now what is Next in SUNTV ??? ) Trend is Down 2) Horizontal blue lines are areas of Support and resistance So unless you do not get a daily close above 650 (which is an area of resistance) - do not attempt to go long. If you are short - keep stop loss at 650 ON DAILY CLOSING BASIS Your target should be level of previous support - which is 450 (100 points) Presently Escorts is trading @ 550 - SL for shorts is @ 650 (On daily closing basis) I REPEAT - STOP LOSS IS 650 ON DAILY CLOSING BASIS
NSE:SUNTVShort
by MAYA_MUMBAI
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