Hello Sredhar,
1) If you are using 5 min timeframe, and if the overbought band is considered as 80 then there was no set up....but if you are considering 70 as the upper band ( in a bear market I relax the upper band a little and in bull market I relax a lower band to 30 instead of 20 ) then you had two set ups.
2) Always use 2-3 critaria to take a trade......if you consider support / resistances or pivots or TDST levels or gaps explained in my other thread " Ideas on Day/Swing Trading " you would get many places for going short today.
I am sure you must have caught a good portion of a great trend day today....
Smart_trade