Presently we are trading with in the red channel on hour charts . The top of the channel acting as resisting TL .
Intraday day nifty spot charts looks weak as it is trading in a down channel since morning .
5287 NS holding as support .
Today morning when nifty made a lower high at 5311 and started going further down ..I drew a trendline from the tops 5317 and 5311 . Took a short position keeping the TL as guide . Came out of the trade as my trailing SL hit.
Intraday day nifty spot charts looks weak as it is trading in a down channel since morning .
5287 NS holding as support .
Today morning when nifty made a lower high at 5311 and started going further down ..I drew a trendline from the tops 5317 and 5311 . Took a short position keeping the TL as guide . Came out of the trade as my trailing SL hit.