My Findings :- 1. Breakdown of Strong Support Zone. 2. Lower High and Lower Low Formation. 3. Close Below Seven Months Low. 4. IT Index also week. Check Chart below.
Bias- Short Target- 1175 and 1046 SL- 1429 RR- 1: 2
IT Index Chart :-
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.