- Major resistance -5300.
- Major support - 5270 (100- HMA).
- The index has broken major resistance at 5300 and jumped till 5336 at the time of writing. It is currently trading around 5333.
- ASX200 is trading slightly well above Tenken-Sen (5307) and Kijun-Sen (5316) in the hourly chart.
- On the higher side,any break above 5300 confirms minor trend reversal, a jump till till 5350/5449 (61.8% retracement of 5625 and 6152). The index should break above 5625 for further jump till 5700.
- The major support is around 5270 and any break below targets 52400/5200/5150 in the short term.
It is good to sell on rallies around 5295-5300 with SL around 5350 for the TP of 5240/5200
