The Security is trading in a range at lower levels. The Security is consolidating between 48.47-47.60, we need to wait for the Security to break beyond this level, if the Security is able to break on either side, following are the conditions which need to be followed.

If the breakout is on the upside the security  has to close above 48.47 levels, 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  47.60 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

RECTANGLE PATTERN

Aug 24 2022