- Major resistance - 5260 (55 day EMA)
- Major Support - 5200
- ASX200 has is trading near major support 5200 and any break below confirms minor trend reversal. It is currently trading at 5207.
- Short term trend is slightly weak as long as resistance 5260 holds.
- On the higher side any break above 5260 will take the index to 5300/5347 (21 day MA).The minor resistance is around 5230.
- The index major support is around 5200 and any break below targets 5135 (200 day MA).
.It is good to sell on rallies around 5250-55 with SL around 5300 for the TP of 5200/5135.


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