The upbeat tone from U.S. President Trump managed to fade the clouds of uncertainty over the U.S-China trade deal along with an uplift in Asian markets. So a stage of positive opening was set and index opened at 11,984.90 levels but started moving downside led by heavy additions to Call Writing at 12,000 to an intraday low of 11,957.30 levels. Almost all indices are trading in red out of which PSU Banks eased 3.33%. Market Breadth is negative as 570 stocks are advanced while 1,149 are trading in red. On hourly scale, the index is forming a 'Head and Shoulder' pattern that signals for a bearish reversal and possesses high reliability. RSI is trading at 41.26 levels and likely to sense support from 40 levels. Stochastic oscillator is continued with its bearish crossover.