Nifty- Channel Resistance + Bearish Divergence- Short Setup

12 Ara 2016

As seen Nifty has been facing resistance at the top band of the ascending channel with bearish divergence, where the price is making a higher high and RSI is making a lower high, indicating weakness in the hourly chart. Therefore, expecting a move towards the lower band of the channel.

Short when it breaks the trendline or below the low of last candle at 8245
Expected Levels- 8210, 8190
Exit- 8281

12 Ara 2016

Not

8210 achieved.

12 Ara 2016

Not

8196 booked out