Market Analysis for 23,280 Level

Market Analysis for 23,280 Level:

Scenario 1: Gap Up on Monday (Breakout Possibility)

Condition for Breakout:
A higher high (HH) candle pattern on the daily timeframe is required to confirm the breakout.
The breakout must be accompanied by strong volume.
After the breakout, the market must sustain above the trendline for further momentum.
If confirmed, the first target is achievable with a risk-reward ratio (RRR) of 1:2.

Scenario 2: Consolidation at Current Levels (Breakdown Possibility)

Condition for Breakdown:
A lower low (LL) candle pattern on the daily timeframe is required to confirm the breakdown.
The breakdown should breach key support levels with high volume to validate the move.
If the breakdown is confirmed, the target would be the second support level, with an RRR of 1:2.5.

Key Observations:
A clear HH candle indicates buying pressure and the continuation of an uptrend.
A LL candle reflects selling pressure and the potential for a downtrend.
Monitor daily timeframes for these patterns and validate with volume analysis.

Disclaimer: just for education purposes.