- Major resistance – 16400
- Major support -15600
- The index has broken major resistance 16350 and jumped till 16458 at the time of writing . It is currently trading around 16348.
- Any break above 16350 confirms minor trend reversal , jump till 16700/17000/17250 is possible .
- On the lower side minor support is around 15500 and break below targets around 15200/14880 (200 day W MA) /14350/14000. The minor support is around 15900.
- Short term trend reversal can be seen only above 17200.
It is good to buy above 16350 with SL around 16000 for the TP of 17000/17270
The material has been provided by InstaForex Company – www.instaforex.com