This ideograph is comprised of glyphs for the end of an area; the beginning of an area; a path, and; an arrow (indicating the direction of travel). You should note that the arrow is positioned
midway along the path. Thus, we can deduce that the location is midway on the path between the end of one area and the beginning of another. In other words, this Indus sign represents the noun
Illustrative Text Reference:
Mohenjo-daro: Seal: M-331 a: Jagat Pati Joshi and Asko Parpola, 1987: Corpus of Indus Seals and Inscriptions: Volume 1: Page 84: Collections in India: Suomalainen Tiedeakatemia.
This is Mahadevan's sign number 156, which I have redrawn to better reflect the original.