Nifty Mid cap 100 Good short candidate

Nifty Midcap Index CMP around 20450 levels.
Elliot wave Study :-
Whole structure is in form of rising channel pattern, at the moment index is around resistance line of rising channel pattern.
As per % terms if observed wave 1 = wave 5 (both the waves are of 27% )
Wave 3 is of approx 1.618% extension of wave 1 and wave 5.
As per theory when wave 3 is extended wave,, wave 1 and wave 5 are equal.
Wave 2 and wave 4 are also equal in terms of % ( both have given 9% correction)
Smaller time frame Rising channel pattern also have resistance around 20500 to 20600 levels,
Resistance of two rising channel structure confluence around same levels give strong indication of reversal.
Impulse phase is on verge to mature around this levels.. if Corrective wave unfolds we might see good correction .
RSI indicator :- RSI is overbought and is trading around long term resistance levels might see reversal from this levels, which would lead to cool off in index.