Simple Trade Setup | HDFCAMC | 27-12-2021 [ INTRADAY]

Observations:

1) On 1 week time frame, we can see that immediate resistance level is at 2400 and immediate major support is at 2250-2256 level range.

Please refer below chart : 1 week Time Frame.

2) On Daily time frame, it is still trading below 200 and 400DMA.

Please refer below chart : 1 day Time Frame.

-------------------------------------
Trade Setup for Date: 27-12-2021

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.