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Multiple narrow ranged candles followed by a large bearish bar is a sign of weakness as selling pressure may amplifyonceabreakdown of range is witnessed. For the series 17620 looks like a major resistance while incase its immediatesupportof16865 is breached then we may witness a meltdown in early part of the series itself. Both trend strength indicatorshavebeen failing to sustain above their respective threshold of RSI50 & ADX25 which are leading signs of weakness. Expectheadwinds to remain strong until we don’t see a breakout above 17620 while weakness is expected to extendtowardsitsweekly doji low below 16820. Traders are advised to maintain retain long short strategy into the truncatedweek&waitfora range break outside 17380-16820 for pushing through the throttle for directional momentumbased strategies.

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