Simple Trade Setup | BHARATFORGE | 31-08-2021

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BHARATFORG


Observations:

1) On Daily time frame it took resistance from 21DMA which is placed near 775 level.

Please refer below chart : Daily time frame.


2) On 1 hour time frame we can see that major resistance is at 780 and major support is at 719. Any dip above 719 will be buying opportunity for positional trade.

Please refer below chart: 1hour time frame.


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Trade Setup for Date 31-08-2021:

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 tomorrow.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.