Simple Trade Setup | KOTAKBANK | 18-10-2021 [ INTRADAY]

16 Okt 2021

KOTAKBANK

Observations:
1) On 1 day time frame, we can see that it sustain and tested 21 DMA and took support from it.
21DMA is placed at 1995.78 level. Also another critical level is 2000 level.

So range of 1995 to 2000 will work as critical support zone.

Please refer below chart : 1day Time Frame.


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Trade Setup for Date 18-10-2021:

Most of the levels will remains the same as per previous setup.

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.