Support – 6077, 6036.70, 6000
- FTSE finds itself stuck between a range marked by daily 200-SMA and daily 100-SMA.
- Prices have failed to see a daily close above/below the respective average levels since 5th May.
- The said range today is 6161-6077. The lower end of the range almost coincides with 38.2% of Feb low – April high). As of now, waiting on the sidelines is advisable. Downside break on the daily closing basis would indicate the sell-off from the recent top of 6427 level has resumed