Intraday Buy Setup: Support at 2675 Targets at 2700 & 2705
Updated
Market Analysis:
After analyzing the trading chart, I have identified key levels of support and resistance. The support level is at 2675, meaning if the price drops to this point, it could find stability and potentially reverse upward. On the other hand, the resistance level is at 2705, indicating the price may face difficulty moving above this point and could start to drop if it reaches here.
Buy Trade Setup:
If the market moves towards 2685, this could present a good opportunity for a buy trade. This level is significant because it's close to the support and indicates a potential for upward movement.
Targets for the Day:
For today’s trading, my primary target is 2700—a key level where the price could face resistance and slow down. If the market breaks through this level, the next target would be 2705, which is a stronger resistance point.
In summary:
Support: 2675
Resistance: 2705
Entry Point for Buy Trade: Around 2685
Primary Target: 2700
Secondary Target: 2705
This strategy is based on the price action and the levels identified, and could offer a solid trading opportunity for the day.
After analyzing the trading chart, I have identified key levels of support and resistance. The support level is at 2675, meaning if the price drops to this point, it could find stability and potentially reverse upward. On the other hand, the resistance level is at 2705, indicating the price may face difficulty moving above this point and could start to drop if it reaches here.
Buy Trade Setup:
If the market moves towards 2685, this could present a good opportunity for a buy trade. This level is significant because it's close to the support and indicates a potential for upward movement.
Targets for the Day:
For today’s trading, my primary target is 2700—a key level where the price could face resistance and slow down. If the market breaks through this level, the next target would be 2705, which is a stronger resistance point.
In summary:
Support: 2675
Resistance: 2705
Entry Point for Buy Trade: Around 2685
Primary Target: 2700
Secondary Target: 2705
This strategy is based on the price action and the levels identified, and could offer a solid trading opportunity for the day.
Trade active
target complete
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