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The contracting range finally witnessed a breakdown as anticipated. Momentum accelerated oncetheindexslipped below the 18020 level ahead of the Budget announcement. The immediate swing support near 17860also looks fragile now as further slippages below its 5 Weeks EMA of 17860 would immediately pull theindextowards its 200 days EMA level of 17550. Since the current price action is near the lower side of therangewithitsADX placed at 24 its ideal to refrain from buying any pullbacks & utilize the opportunity to build further shortpositions. Pullback towards18020 from hereon would provide yet another opportunity for additions of freshshorts for a final move towards 17550 while the upside remains capped until 18180 is not breachedwithanImpulsive force.

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