Nifty has broken below its 20 MA on Monday on daily charts and it retested its 20 MA again today but failed to cross and close above it. According to me this is a very good short , one can use put option spread for this play, buy 12100 PE and sell 11800 PE for 9th jan expiry with 1:1 ratio.
Looking at the points where divergences are and the overhead resistance and if they show confluence it makes it a better setup, that is what happened with Escorts the moment it touched 685 the area of resistance, one can short any bounce towards 688, with a very strict stoploss just above 688 and if it closes above 688 one can even go long having stop just below 685.
Though the stock has shown bullish set-up since it crossed EMA channel in single blue candle but it's just under the resistance zone, so though it looks bullish according to me one should go long in it only once it gives a close above 88.5
Titan now seems to be giving positive divergence, RSI and MFI are already giving positive divergence, wait for MACD to turn green though the slope has already started to turn so aggresive traders can go long right away