- Major Intraday resistance - 5276 (200 4H MA)
- The index has taken support near 200 day MA and recovered sharply from that level.It is currently trading around 5222.
- Overall trend is weak as long as the resistance 5276 (200 4H MA) holds.
- Any break above 5276 will take the index to next level till 5300/5325.
- On the lower side, support is around 5140 (200 day MA) and any violation below that level will drag the index till 5100/5075 in the short term.
- Overall bearish invalidation only above 5430.
It is good to sell on rallies around 5235-5240 with SL around 5276 for the TP of 5145/5100.
