After a major all-time high breakout, BANKNIFTY is consolidating in a range from 54,000-56,000. The concept of BULLISH breakout is that if a breakout happens, prices follows the trend and move upside strongly without giving chance to enter.
But after breakout, if prices get stuck in a range, this shows confusion of participants even after a breakout. Range created by market mostly creates a no-trading zone and it is difficult to analyze the next move.
So, before entering random trades, one should wait for the market to decide which direction it want to follow and be on sidelines till that time.
But after breakout, if prices get stuck in a range, this shows confusion of participants even after a breakout. Range created by market mostly creates a no-trading zone and it is difficult to analyze the next move.
So, before entering random trades, one should wait for the market to decide which direction it want to follow and be on sidelines till that time.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.