Simple Trade Setup | MARICO | 25-01-2022 [INTRADAY]

Observations:

1) On 15 min time frame, we can see that it made regular bullish divegence as price made lower lows and RSI made high lows.

Please refer below chart : 15min Time Frame.

Also today on 15min time frame, we can see that it made almost flat lows and RSI made higher lows which is also Exaggerated Bullish divergence.
Please refer below chart : 15min Time Frame.

2) On 15min time frame, we can plan for a small trade, if RSI breaks the Resistence trendline then it will be quick buy trade along with price breakout of 473 with target of 476.50.

But Safe buy on price breakout of 477 only.

For short/sell trade, if RSI breaks down the support trendline along with price breakdown below 466.50 level.

Please refer below chart : 15 min Time Frame.

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Trade Setup for 25-01-2022

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.