- Major resistance – 10540 (21- day MA)
- Major support – 10450 (daily Tenkan-Sen)
- The index has broken 21- day MA at 10540 and is trading well above that level. It is currently trading around 10640.
- In the daily chart any break above 21- day MA confirms minor trend reversal, a jump till 10806/10879 is possible.
- Any break below 10450 (daily Tenkan-Sen) will drag the index down till 10365 (61.8% retracement of 10093 and 10806)/10244/10175 (100- day MA). The minor support is around 10650 (5-day MA).
- On the higher side, any break above 10880 will take the index to next level till 11020/11153 (161.8% retracement of 10806 and 10244).
It is good to buy on dips around 10600 with SL around 10450 for the TP of 10806/10878.
