1) On 15min time frame, It has made a big bullish candle on 2nd Sep. High of that candle was 1608.25 and low of that candle was 1564.20.
Since-then it has been trading sideways in this range and not able to give sustainable breakout on either of side.
Please refer below chart : 15 time frame. ...
was consolidating in narrow area , may give breakout either side.
1. Ubl looking strong above 1312, you can have a long position above it , with a stoploss of 1303.
2.Upside targets will be 1323 and 1333 consequently.
3. looking weak below 1294, for the targets of 1281 and 1271, maintain stoploss at 1303.
4.Idea will remain invalid if it opens big gap up or big gap down.
Satisfying multiple checks :
1. Oversold zone
2. Support turned resistance zone
3. Parallel Channel upper resistance
4. High wicks on upper side than lower
Comment if you have any other doubts. Thanks !! Personal entry is taken...
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