Market was in a tight range today. On the up side 17480 will act as a resistance because there is a 200 Ema in 1H tf. There is a support around 17250, which has a formed a rough head and shoulders pattern. If the neckline is broken a downfall can be seen till 17100. On the up side if 17480 is broken, then an upside is expected. Between these a short strangle or a short straddle can be initiated.