The security has been consolidating in a range. A breakout will be an opportunity to enter security. A crossover is seen in the security, A faster EMA has crossed slower EMA indicating negative trend. As EMA is not favourable in the flat market we will ignore the signal and wait for the breakout from the consolidation. If the security moves downwards we can expect the selling to be strong in the security.

If the breakout is on the upside the security has to trade above both the EMA.

Trade as per breakout downside breakout expected.

Rectangle with EMA confirmation

Aug 21 2022