Parallel Channel Intra Day only

15 minutes chart has formed a parallel Channel that gave breakout but immediately got rejected so it seems to be a failed breakout. Failed patterns work mostly as the breakout traders have already been trapped and are forced to cover their longs by shorting the stock. One can short the stock at current level with reasonable SL for target of 537.50.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

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Closed with small Loss