- Major support - 5150 (Sep 13th 2016 low)
- Major resistance - 5275 (200- day MA).
- The index jumped sharply till 5276 from the low of 5140 made yesterday on increasing hopes of Clinton victory in U.S Presidential elections. It is currently trading around 5247.
- ASX200 faces major resistance at 200- day MA and it should close above that level for minor jump till 5300/5325.
- On the higher side, resistance is at 5275 (200- day MA) and any break above 5275 targets 5300/5325 (daily Tenken-Sen). The index should break above 5505 for further jump till 5625.
- The minor support is around 5150 and any break below targets 5100/5000 in the short term.
It is good to buy on dips around 5200 with SL around 5150 for the TP of 5300/5325