kakshay94

Nifty breakout trade (ioi)

NSE:NIFTY   Nifty 50 Index
There is an inside-outside - inside pattern seen on 22, 23 and 24th of may respectively.
22th candle is an inside candle of 21th , 23rd is an outside candle of 22th and 24th is again an inside candle of 23rd forming an ioi pattern.

Market is long if the price breaks the high of the outside bar (12041)
Market is short if it breaks the low of the outside candle ( 11614 )
Target will be a measured move equal to the range of the ioi pattern.
Upside target : 12472
Downside target : 11185

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