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Expected bounce back remains inline as the index nears the key resistance zone for the week which is placed at 15840. Apullbackcloseabove its 5 DEMA zone of 15550 is a good close to gauge the strength of the pullback move which could provide another roundof opportunity for traders to deploy fresh shorts during the week. Major resistance for the week stands form at 15840 whilekeysupportfor the series stands at 15060. Trend strength indicator RSI seems rebounding from its oversold reading near 30 as it scales towards50while ADX remains scaling higher above 35; which are diverging signs in the short term. Hence its ideal to redeploy shorts near theupperrange of the week until 15840 resistance holds on a closing basis & review them once the index scales lower below15300. Pullbackisexpected to remain fragile as occurrence of a reversal formation on its intraday scale would culminate into a blowoff of thepullbackrally. Ideal to await for a fresh signal around the upper end of the range to redeploy fresh shorts for the final leg of the Juneseries

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