It is evident from the chart that Nifty is making Head & Shoulder pattern. Neckline breakout will be on hourly close below 11580. Stop loss should be 11761 but trader can also observe 11670 as the stop loss for target of 11200.
Note : Break out is yet to take place. Hourly close must be observed or trader can wait to sell below 11550 with stop loss above 11625
Note : Break out is yet to take place. Hourly close must be observed or trader can wait to sell below 11550 with stop loss above 11625