In chart 22249 is a strong resistance. Price touch 2 times in history and comeback to 21506. MACD indicate some divergent here and giving signal for down trend .
But my point of view if 21506 break with good volume and make a support with 2-3 trading day then price will be BOOM Next target will be 22400. (Also I'm expecting this)
If can't break the resistance then wait for trendline break don't aggressively short here with one parameter confirmation.
You can short after price goes down 21983.
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Thanks & Regards, Kaustav Hazra
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Now trying to retrace . What is the reason behind this? =>who are in short they are trying to exit at resistance area . So this resistance area will become support area. Let's see what happen.