The index has broken major support 16500 and declined till 16253 at the time of writing.It is currently trading around 16278.Short term trend is as long as resistance 16700 (7 W ) holds.
Any break below 16500 confirms minor trend reversal , a decline till 16000/15500 is possible .On the higher side major resistance is around 16700 any break above will take the index to next level till 17000/17300.
The index major support is around 16200 and break below targets 16000/15500.
Short term invalidation only above 17300.
It is good to sell on rallies around 16350-16400 with SL around 16700 for the TP of 16000/15560.