CHINA 50 has given a breakdown of Descending Triangle pattern indicating negative trend in the index.

The price are trading below both the Fast (21) & Slow (50) indicating negative trend, wherelse both the 

EMA are trending negative indicate negative trend.

Momentum Indicator RSI(14) is  trading at 37 mark indicate negative trend.

DMI- trading above DMI+ indicate negative trend with ADX trading above DMI+ strengthning the move.

Hence as per above observation sell position can be created at cmp.