Simple Trade Setup | BERGERPAINT | 27-09-2021

26 Sep 2021

BERGEPAINT



Observations:
1) On Daily Time frame, it has been taking suspport from 100DMA and broke 50DMA with good bullish candle and good volume on 24-09-2021.

Major resistance is at 840 level. If it holds to stay above it then it will be bullish for short-mid term.

Please refer below chart : Daily time frame.


2) On 30min time frame, it has made breakout of rounding bottom.

Please refer below chart : 30 min time frame.



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Trade Setup for Date 27-09-2021:

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.