On the daily charts the index has created an Inside Bar. Last two trading sessions clearly suggests a consolidation post the recent 2-day sharp bounce back. The index is essentially tired and buying time before the next directional move. 11,200-11,300 is the obvious short term range for the index, which it needs to clear to set the next swing move. 11,300 is a relatively stronger resistance which has the confluence of erstwhile lows and the 61.8% Fibonacci Retracement. Ripe time for breakout traders to take action beyond the above-mentioned range and yes, a breakout failure will definitely lead to a significant trend on the either direction.