Over the past few months, the index is oscillating in the channel, it is a continuation pattern. It tried to breach the upper trendline but fail to do so It opened above the previous high but couldn't sustain above it and ended up forming a bearish candle. Global cues are not in favour to break this level, we may see a downward rally. Upside the green trendline is resistance and the 17600 level holds an important support.