- The index has broken major resistance 9830 (Jan 22nd high) and jumped till is currently trading around 9780.
- Any minor weakness can be seen only below 9560 (Kijun-Sen) and any break below 9560 will drag the index down till 9420/9300.
- The minor support is around 9700/9610.
- The major long term support is around 9250 and any close below 9250 will confirm further weakness, a decline till 9000/8800 is possible .
- On the higher side resistance is around 9880 (Cloud bottom) and break above targets 10000/10165
It is good to buy at dips around 9700-9750 with SL around 9580 for the TP of 10000/10165.
The material has been provided by InstaForex Company – www.instaforex.com