Positional sell
Relative strength divergence on monthly wrt to Nifty (12 months)
Range breakdown from 20 to 12=8 pts
Measured move from breakdown
12-8=4 price target
4 months Price consolidation near 65 months channel trendline low.
Sl 9.5 on closing.
An breakdown of long term trendline is anticipated with multiple retest of trendline support making it weak.
Aggressive traders can short futures with an Sl above 52070 closing basis.
Expected target 49000-48500 with an breakdown of swing low followed by an fresh low.(Trailing basis)
