The Index is trading in a range at lower levels. The index is consolidating between 7240-7198, 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.

If the breakout is on the upside the index has to close above 16245, 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 40 point target with a SL of 20 points

If the RSI is trading above 73 ignore the breakout.

If the breakout is on the downside the index has to close below 7190 levels, wait for 1 15 min candle to close below the level, if it is able to close below the mentioned level start selling for a 40 point target with a SL of 20 points.

If the Macd is trading below 0 it will give an add up confirmation to the downside.

AXS200

Dec 02 2021

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