NASDAQ100
KUNAL KAMBLE
NAS100·
Nov 30 2021
1
NAS100
The Index is trading in a range at upper level. The index is consolidating between 16375-16447, we need to wait for the index to break beyond this level, if the index is able to break on either side according to that we will suggest to take position.
Condition 1.
If the breakout is on the upside the index has to close above 16450, wait for 1 15 min candle to close above this level, if it is able to close above the mentioned level start buying for a 100 point target with a SL of 65 points
If the RSI is trading above 81 ignore the breakout.
Condition 2
If the breakout is on the downside the index has to close below 16370 levels, wait for 1 15 min candle to close below the level, if it is able to close below the mentioned level start buying for a 100 point target with a SL of 65 points.
If the Macd is trading below 0 it will give an add up confirmation to the downside.
Advice : Wait for the breakout