Nifty- Channel Resistance + Bearish Divergence- Short Setup
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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
Short when it breaks the trendline or below the low of last candle at 8245
Expected Levels- 8210, 8190
Exit- 8281
Note
8210 achieved.Note
8196 booked out
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