Sell Nifty below 17540 target17390/17260/17060 stop above 17650

Nifty is showing rejection from the higher levels and with Fed latest comments the interest rates will see a sharp spike and the result will be felt by the economy especially certain rate sensitive business will feel the "pain". Technically also any sustenance below the levels of 17540 will open give some more pressure to nifty. From the indicators point of view the RSI is also weakening and EMA & SMA Crossover also hinting the same.

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Risk Reward not favourable as the market opened too lower

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