Simple Trade Setup | ADANI PORTS | 05-01-2022 [ INTRADAY]

4 янв. 2022 г.

ADANIPORTS

Observations:

1) On 1 day time frame, we can see that it open above 200DMA and took support from it and sustain above it.
200DMA is placed at 736.60 level.

Please refer below chart : 1 day Time Frame.



2) On 1hr time frame, we can see the parallel support channel, breakdown of it will make it ready for down move.

Please refer below chart : 1hr Time Frame.

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Trade Setup for 05-01-2022

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.