Major support - 2050
Major Intraday resistance - 2070
Short term trend reversal Level- 2085
The index has broken major support 2050 and declined till 2046.6 at the time of writing. It is currently trading around 2047.
Any break below 2050 will drag the index down till 2023/2015/2006
Minor trend is weak as long as resistance 2070 holds. Any indicative break above 2070 will take the index till 2080 (200 HMA)/2085.
It is good to sell on rallies around 2053-55 with SL around 2070 for the TP of 2023/2008
Major Intraday resistance - 2070
Short term trend reversal Level- 2085
The index has broken major support 2050 and declined till 2046.6 at the time of writing. It is currently trading around 2047.
Any break below 2050 will drag the index down till 2023/2015/2006
Minor trend is weak as long as resistance 2070 holds. Any indicative break above 2070 will take the index till 2080 (200 HMA)/2085.
It is good to sell on rallies around 2053-55 with SL around 2070 for the TP of 2023/2008