Good Morning Friends,
I have already shown you the hourly chart yesterday and above it updated hourly chart as per yesterday's closing. Few important point to observe is as follow -
1. Divergence on RSI and MACD on hourly chart. It may be effective just below 16600 levels itself.
2. Formation of double top at 16702 which is all time high. It is confirming the resistance at all time high.
If things goes the way it is looking on technical chart then things are looking for an ugly expiry. I have a disclosure that I have no position on any stock.
I am very much willing to add short if I get some confirmatory signal.
Happy Trading
Praveen Kumar
