Simple Trade Setup | NIFTY | 09-11-2021 [ INTRADAY]

2021年11月8日

NIFTY

Observations:

1) On daily time frame, we can see that it just closed above 21DMA which is placed at 18064.09 level.

Please refer below chart : 1 day Time Frame.


2) Also on daily time frame, it managed to close above the support trendline.
Which is a good sign as far as it is above this trendline.

Please refer below chart : 1 day Time Frame.

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Trade Setup for Date 09-11-2021:

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.