The Index is trading in a range at higher levels. The Pair is consolidating between 16030-15600, we need to wait for the Pair to break beyond this level, if the Pair is able to break on either side, following are the conditions which need to be followed.

If the breakout is on the upside theindex has to close above 16030, wait for one 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 security has to close below 15600 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

NIFTY50

Jul 06 2022