Simple Positional Long/Buy trade setup | CDSL | Short-Mid TermNSE:CDSL
Observations:
1) On daily time frame, we can see 50DMA is working as support.
In last session, It took support from it closed with bullish candle.
So Major support range is 1290-1300 level.
Please refer below chart : 1day Time Frame.
2) Also on daily time frame, we can see that it is taking support from major support trendline.
And also it has formed symmetrical triangle pattern.
If it breakout upward then it will be bullish.
If it gives breakdown of support trendline then it will be bearish.
Please refer below chart : 1day Time Frame.
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In this stock it is better to take positional trade. Below is the levels and setup for only long positional trade setup.
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.
