Simple Trade Setup | AARTIIND | 06-09-2021

מעודכן

Observations:

1) On 1 hr Time frame, if you can see that it has been taking support from 900-901 level and making lower highs. And it is forming descending triangle pattern.

Please refer below chart : 1 hr time frame.

2)On Daily Time frame you can see that 900 level range was earlier working as resistance and now it has been working as support. Any violation or breakdown below 900 level will make this stock bearish again.

Please refer below chart : Daily time frame.

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For POSITIONAL long trade one can take safe long position from CMP as far as it is trading above 900 level. SL will be 880/875 and target will be 980/990.

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Trade Setup for Date 06-09-2021:

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.

Please refer below chart for levels.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.

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Trading_hawk

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