Simple Trade Setup | TATAMOTOR |24-11-2021 [ INTRADAY]

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TATAMOTORS

Observations:

1) On 1day time frame, yesterday it closed below 21DMA and today it faces resistance from 21DMA.
21DMA is now immediate resistance zone.
21DMA is placed at 498.50 level.
So level range 498-500 will work as resistance.

Please refer below chart : 1 day Time Frame.


IF it failed to sustain above this then we can see a down move.

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Most of the levels and trade setup remains same.

Trade Setup for Date: 24-11-2021

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.

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.