The Index is trading in a range at higher levels. The Index is consolidating between 3952-3921 we need to wait for the Index 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 Index  has to close above 3952 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 Index has to close below  3921 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

Channel Breakout

Nov 29 2022