BEL
Observations:
1) On 1day time frame, it is sustaining above 200DMA and take support from it in friday session. 200DMA is major support at this moment. it is again back in big range.
200DMA is placed at 191 level range.
Please refer below chart : 1day Time Frame.
2) On 1hr time frame, we can see a descending parallel channel.
Please refer below chart : 1 hr Time Frame.
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Trade Setup for 28-02-2022
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.
