Nifty Short Setup!!

NSE:NIFTY   Nifty 50 Index
Nifty is giving a Short Setup at current levels. After giving a 5 way decline nifty moved up in three waves above 61.8% fib in a corrective pattern which indicated that Nifty will go down further. One can Short the Nifty at current levels with Stoploss just above recent high around 8971 with targets of around 8620. Its a Nice Risk Rewards trade..

Happy Trading!!
Comment: Nifty Continues the down move towards the targets..
Trade closed: target reached