As recommended to enter in the direction of the breakout, the breakout is witnessed on the downside and a gap-down opening has been observed which is indicating that the trend on the downside is sharp and strong. 

Major levels which need to be considered for a downside move will be 175 followed by 170, Resistance for the security is placed at 187.30 followed by 190.80.

Condition to exit: Exit if the security closes above 190.80.

Condition to trail Sl: Trail SL to 177 if prices are able to close below 175.

Condition to Book Profit: Book Partial Profit @ 175 and trail SL to 177 and wait for 170 levels once 170 levels are tested book  25% and hold the remaining 25% with an SL of 173 for the target price of 160

Update After Breakout

Aug 10 2023