For looking at the chart closely, You will appear that 11144 nearby selling has not much risk. For sellers, the risk is low and reward is high. Intellectual traders should choose lowest risk and high reward.
Yes, absolutely selling is good decision at resistance but, question is how to identify UP-BREAKOUT?
Suppose you have sold Nifty / bought the PUT 11144 nearby, keep Stop loss in mind strictly as 30-40pnts risk to loose.
Exit strategy, incase price move and touch near the your stop loss, font be afraid. Just watch and price move. Exit from sold position if heavy only.
1) Previous Resistances are existed which are very strong.
2) Retracement is also at 61.8%
3) If i get the chance to trade higher level (11144 nearby), then lowest risk involved.
Exit setup is clear.