Simple Trade Setup | HDFC | 11-10-2021 [ INTRADAY]

NSE:HDFC

Observations:
1) On 1 day time frame, it is resting above the critical zone of 2695 to 2720 level. Also it closed slightly below 50DMA which is placed at 2725.01 level.

If it able to sustain above 2725 level then we can see again bullish trend in HDFC from this support level.
If it breksdown this support range 2695 level then we can see down move continue.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date 11-10-2021:

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 respsective level considering how price action works near that level.