The security is trading in a range. The pair is consolidating between 54-52.50, we need to wait for the security to break beyond this level, if the Security ​is able to break on either side according to that we will suggest to take position

If the breakout is on the upside the security has to close above 54 wait for the daily candle to close above this level, if it is able to close above the mentioned level start buying. If the RSI is trading above 73 ignore the breakout.

If the breakout is on the downside the Index has to close below  52.50 levels, wait for the candle to close below the level, if it is able to close below the mentioned level start selling.

Wesfarmers

Feb 07 2022