The Security is trading in a range at lower levels. The Security is consolidating between 1.5283-1.5216, 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 1.5283 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  1.5216levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

Advice : Expecting Breakout on the downside as Failure breakout is seen 

Expecting Breakout on Downside

Sep 01 2022