The medium term up-trend depicted by the arrow on the chart is going to end today.
Today SGX Nifty is up 18.5 points and Nifty after the opening will move up till 12:10 around.
From intraday perspective, one can initiate long at the opening, with stop-loss at 10360 NS and target 10470 NS till 12:10 PM
After that we will short.
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Lets revisit this short at 14:51
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So while its up, did not do much in terms of levels. At 12:10, we can exit at minor profit or no profit no loss. After that both MT and ST traders can go short with stop-loss at 10470 NS and target 10325/10275 NS. To be acheived in next 4-5 sessions.
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It will give a high at 14:51 and then fall, it appears. Its still is a short.
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Now its absolutely critical that 10425 be taken out, otherwise we will exit before closing.