As we noticed a bearish divergence on my previous publication, Price broke 16500 and a daily candle closed below this level. A Head & Shoulder pattern has formed, we can expect a good direction towards downward.
Probabilities:- If gap up happens (above 16500) probability of this pattern will less effective but can not be ignored. If opens flat market will respect this pattern and continue dipping till 16360-16250. If gap down happens (at 16360) market will recover for a while and continue dipping.