DABUR - About to go down

DABUR is about to come down, as it broke the channel pattern, retraced back and ready for a bigger move.

SHORT RISK/REWARDS are mentioned in the chart.

Target - 494.75, 480.15

SL - 507.8
Trade active: Entered the trade with DEC Fut.
As long as the trendline is not broken, I will be holding on to this trade.
Trade active: Broke the trendline, managed to hold there.
but couldn't hit our stop loss.

Sold 490 PE at 7.25 rs. If it hits our stop loss, I will be closing FUT trade, and will create Short Strangle by selling 540 CE.

Margin requirement will be almost same as shorting Fut trade.
Trade closed: stop reached: Stop Loss got hit.

Closed FUT trade and holding 490 PE. will create short strangle, only if the price comes down to 500.
Comment: Closed 490 PE, as I saw better trades.