This is a pictograph of a man with a weapon that resembles a stick. My translation is therefore, man with a lathi.
Illustrative Text Reference:
Mohenjo-daro: Seal: M-234 a: Jagat Pati Joshi and Asko Parpola, 1987: Corpus of Indus Seals and Inscriptions: Volume 1: Page 58: Collections in India: Suomalainen Tiedeakatemia.
There is only one extant example of this Indus sign.
The pictograph also resembles a swordsman. The weapon may therefore have been something similar to the Chinese jiàn 剑. However, there is currently (January 2018) no archaeological
evidence to support metal swords at Indus Valley Civilisation sites.