The price action seems to be following a channel. Today stock touched the upper trendline of the rising channel and faced stiff resistance. It found support @ 1498 level. A decisive break below 1498 may take the stock to 1485. Below 1485 it may go as far as 1460-1470 support zone where some consolidation action can be seen.
SL can be 1515 or 1521
Trade was initiated on breakdown of 1498 and first target of 1485 has already been hit.
There might be a second opportunity to short on pullback near 1498.
Just look for a bearish pattern in the 1495-1500 zone.
Target 1485 hit again in second selling opportunity.
Trade closed: target reached:
Second target reached..close at will.