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Short

FTSE100 faces strong support at 6100,good to sell on rallies

FX:UK100   FTSE 100 index of UK listed shares
50 0 4
Major resistance - 6200 (200 day MA)

Major support- 6100

FTSE100 slightly recovered till 6154 yesterday after making a low of 6097.The index is facing immense selling pressure on higher levels mostly near 5200 (200 day MA)

It should close above 6200 for further upside and is currently trading around 6115.

On the lower side any break below 6100 will drag the index down till 6065/6005.

Short term trend reversal only above 6300. The major resistance for the day is around 6200/6258/6300.

It is good to sell on rallies around 6150-6155 with SL around 6200 for the TP of 6065/6005
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