Major intraday resistance – 6080 (hourly Kijun-Sen)
Major support – 6000 (Mar 10th 2016 low)
The index has broken minor support of 6048 (May 19th low) and declined till 6015 at the time of writing.
Any violation below major support will drag the index down till 5875 (161.8% retracement of 6048 and 6323)/5845 (Feb 24th low).
On the higher side resistance is around 6080 and any indicative break above targets 6140/6200.
Overall bearish invalidation only above 6435 (Apr 21st high).
It is good to sell below 6000 with SL around 6080 for the TP of 4875/4845
Major support – 6000 (Mar 10th 2016 low)
The index has broken minor support of 6048 (May 19th low) and declined till 6015 at the time of writing.
Any violation below major support will drag the index down till 5875 (161.8% retracement of 6048 and 6323)/5845 (Feb 24th low).
On the higher side resistance is around 6080 and any indicative break above targets 6140/6200.
Overall bearish invalidation only above 6435 (Apr 21st high).
It is good to sell below 6000 with SL around 6080 for the TP of 4875/4845
