Good zone to start considering shorts around the CMP
(1) Channel Resistance (2) Bearish BAT Harmonic and Bearish DEEP CRAB harmonic Patterns (3) Price action supply zone
RSI is showing divergence in 1 HR.
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Do I short this naked in Future, Yes I can. But the Risk is huge considering the amount of volatility and Swings it can create. In Technical analysis, It is not about right or wrong it is always about what do I loose If I am wrong and how do I manage my Risk. Therefore when you are taking swing positions, It is always desirable to hedge your positions and manage the risk.
Back to our discussion, How do I do it here. Answer is either I deploy short strangle or I deploy Put Ratio spread where my Risk is limited.