Hellow friends,
Have a look on above hourly chart of Nifty spot. We can able to see the lower top and lower bottom formation. Nifty is again showing some resistance at the upper end of channel. Worse part is not in the part, it is bank nifty chart which has closed almost on days low on Friday.
I presented two option for bearish move. Anyhow it is showing to hit 13900-14000 levels, giving opportunity for short trade. If it goes higher today then i will prefer to grasp short trade.
MY STOP LOSS may be near 14850 levels. Well, I am more keen for shorting bank Nifty. What's above 14850, we can say it would be breaking higher end of channel and that will be named as breakout. In that case a bullish move could be expected for price target 15000-15200.
Thanks and happy trading
