- Major support – 5040
- Major resistance – 5216 (90 4H EMA)
- The index has broken major resistance at 5216 and jumped till 524 6 at the time of writing .It is currently trading around 5241.
- The intra day trend is slightly bullish as long as the support 5150 holds.
- The index's major resistance is around 5216 and any break above targets 5272/5295.
- On the lower side, support is around 5150 and any violation below that level will drag the index till 5100/5075/5040 in the short term.
- Overall bearish invalidation only above 5430.
It is good to buy at dips around 5200 with SL around 5150 for the TP of 5275/5295
The material has been provided by InstaForex Company – www.instaforex.com