Simple Trade Setup | DABUR | 18-08-2021

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DABUR

Observations:
1) On Daily Time Frame, Finally it took support from 21DMA and show good up move.

2) On Daily Time Frame, Now it closed above both 21DMA and 50DMA and took support from both 21DMA and 50DMA in past 2 days.

Please refer Chart below: daily time frame.


3) On 1 hour time frame it has made rounding bottom pattern and closed near the breakout line level which is at 597 level.

Please refer Chart below: 1 hour time frame.


4) On 15min Time frame it is trading in ascending channel since 11th Aug 2021.


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Trade Setup for Date 18-08-2021:

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 target w.r.t price action working near that level tomorrow.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.

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