Midcap Nifty - low risk short position (1:5 R-multiple)

Midcap Nifty (Midcpnifty) corrections since September 2024 have always started with double tops.

Price is now resisting at downward sloping trendline and a fresh doubletop formation is in-progress on the daily chart.

Short positions can be initiated with a stop loss at 12950 (closing basis), for targets of 1200, 11800 and 11500 respectively.