• Major resistance – 7000 (Nov 23rd high).
   
• Major support -6610 
       
• The index recovered sharply and has broken 7000 level after forming minor bottom at 6687. It is currently trading around 6999.
   
• On the higher side, index is facing pschycological resistance at 7000 and any violation above that level will take the index till 7130.The 7130 level is the temporary top formed on Oct 11th 2016 and any break above targets 7300 level.
   
• The minor support of the index stands at 6945 (7- day MA) and any break below targets 6890 (10- day MA/ 6860 (38.2% retracement of 6678 and 6978). Short term trend reversal only below 6610.
  
  It is good to buy on dips around 6950-55 with SL around 6890 for the TP of 7130/7300.