Price is Resistance zone in 4 hour timeframe. Bearish Pin bar candle formed in 1 hour timeframe indicating strong selling pressure. Go for short position in lower timeframe, once price reverses from resistance zone with strong candle.
Techinical analysis :
Price is in previous major Support zone. Current zone will act as fresh resistance zone
Open interest data analysis :
Call writers added huge volume in 160 ~ 170 strike price - Bearish indication
Put writers edited from 165 ~ 170 strike price - Another bearish indication
Wait for price to break out of trinagle pattern. If pattern broken towards upside with strong bullish candle, buy above 1380 with target of 1405 and if price broken downside with string bearish candle, sell below 1370 with target 1332