Major Resistance- 10830 (Oct 25th 2016 high)
Major support – 10425 (trend line joining 9302 and 10200)
The index jumped sharply after breaking major resistance at 10830. It is currently trading around 10913.
On the lower side, minor support is around 10630 (10- day MA) and any break below 10630 will drag the index down till 10425/10025 (Nov 9th low)/9911 (Jul 19th 2016 low).
The major resistance is around 10830 and any violation above targets 11040/11320 (161.8% retracement of 10830 and 10025).
Short term weakness only below 10000.
It is good to buy on dips around 10820-850 with SL around 10600 for the TP of 11040/11300
Major support – 10425 (trend line joining 9302 and 10200)
The index jumped sharply after breaking major resistance at 10830. It is currently trading around 10913.
On the lower side, minor support is around 10630 (10- day MA) and any break below 10630 will drag the index down till 10425/10025 (Nov 9th low)/9911 (Jul 19th 2016 low).
The major resistance is around 10830 and any violation above targets 11040/11320 (161.8% retracement of 10830 and 10025).
Short term weakness only below 10000.
It is good to buy on dips around 10820-850 with SL around 10600 for the TP of 11040/11300
