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Analysis for the sequences marked in the attached chart is mentioned below.
Seq 1: HB-HT sequence formed with significant increase in volume(04-Dec), long position can be created above 377. Trade Plan: Direction Long, Entry above 377, Stop Loss:355, Target: 400
Seq 2: LT-LB sequence formed consecutively with significant volume as marked in the chart, short position can be created.
Seq 3: HB- HT Sequence formed with significant increase in volume(30th Jul), long position can be created above 322.
Seq 4: The trend is moving below 322, need to wait for further movement to take decision. If it moves above 332 with high volume, then it becomes bullish and long position can be created. If it moves below 304 with high volume, it becomes bearish and short position can be created. Trade Plan for bullish: Position: Long, Entry above 332, SL: 304, Target: 360. Trade Plan for bearish: Direction: Short, Entry below 304, SL: 332 and Target: 276.
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