It is been observed that the price action moving in a uptrending channel. Currently the price action has reached to the uptrend channel resistance, it will be interesting to watch from here on that the price action will break above the resistance or retraces back to the support levels of the channel.
The price action just filled the previous gap down space and now indicating weakness due to long upper wick. The last candlestick that had long upper wick also known as Gravestone Doji, a trend reversal pattern, that suggests rejection of higher prices. It is wise to short at current levels with stoploss.
Target 1: 309
Target 2: 301
Stoploss: 332
