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Trading_hawk
Feb 8, 2022 5:12 PM

Simple Trade Setup | RELIANCE | 09-02-2022 [INTRADAY] 

RELIANCE INDSNSE

Description

NSE:RELIANCE

Trade Setup for 09-02-2022

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.
Comments
meetmoneypenny
Hi, I was replaying all your ideas and they worked really well. Just wanted to ask how do you filter out stocks for the next day and is marking support/resistance, important zones enough for trading?
Trading_hawk
hi @meetmoneypenny

happy to know it that you find my Trade setup helpful. 👍

I'm mainly focusing on FnO stocks and most of the time I go through manually. and sometimes use some scanner.

and for levels I am marking it with previous price action history.
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