The Index has made a Double Top formation at the top in a 15min time frame. The Index has given a breakout below the pattern but the move is consolidating we will wait for the index to trade below the consolidating range, once the index close below the consolidation zone we will take a short position (i.e below the Yellow line marked on the chart)

Double Top Formation failure rate are ok the reward is good. Pullbacks are common in the pattern, Volume is irrelevant.

The Index is trading below the 25&50 EMA's  and the trend is indicating negativeness. 
The Rsi is suggesting consolidation, breakout on downside we will get another confirmation.

Sell only if the close is below the mentioned level.

Double Top

KUNAL KAMBLE

Sep 01 2021