Observations: 1) On 1 day time frame, it took support from 50DMA. And gave good up move. Please refer below chart : 1day Time Frame.
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Trade Setup for Date 05-10-2021:
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.
I think better to hold and keep SL at 8 according to your capital if it is having low risk taking and if you can take high risk keep SL at 6. Target will be 16 for sure on breakout of 628 level breakout.