Simple Trade Setup | IRCTC | 27-08-2021

٢٦ أغسطس ٢٠٢١

IRCTC

It has been trading in parallel channel for long time.
Today it took resistance from middle trendline of parallel channel.
Good positional buy trade will be only on breakout of middle trendline of parallel channel. Target will be 2750 or the upper trendline.

On breakout of upper trendline it will have good up movement.

Trade Setup for Date 27-08-2021:

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 tommorrow.

Please refer below chart for levels for intraday trading.


Hope I made it easy to understand it.

Do comment your doubt or suggestion