I have initiated a positional Nifty Future short at 4350, targeting 4290, the gap up opening level. Saw a triple top formation on a real-time tick chart, and went short. I also drew a rising channel formation and the price action stayed within it for very long, until on the third attempt to rise further, it made a lower high (failing to reach the channel high), and broke below the channel on the downside. However it moved back within the channel but constant attempts to resume the uptrend failed. I am looking for a gap down opening on Monday and see 4330 getting tested fairly quickly, if not opening there itself.
Anybody agree or see anything similar? Sorry I don't have any charts to share - was drawing all this on a Bloomberg terminal in real time.