HINDALCO
Observations:
1) On Daily time frame, It just closed above 10DMA.
10DMA is placed at 466.39 level.
Please refer below chart : 1 day Time Frame.
2) On daily time frame, it is still below 21DMA. 21DMA is placed at 483.32 levels.
Immediate support is at 460 level. Intermediate resistance is at 470 level range.
Major breakout level range is 480-485 level.
Please refer below chart : 1 day Time Frame.
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Trade Setup for Date: 15-11-2021
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.
Also note that, I have given very small levels , so that one can take trade from any of these levels w.r.t price action.
