- Major support - 5530 (4H Kijun-Sen)
- The index has recovered after making a low of 5544 yesterday. It is currently trading around 5573.
- Overall trend is bullish as long as the support 5498 (55 4H EMA) holds.
- Any break above major resistance 5600 will take the index to next level till 5672 (161.8% retracement of 5431 and 5041)/5700 in the short term..
- On the lower side, support is around 5530 (4H Kijun-Sen) and any violation below that level will drag the index till 5485/5450/5390.
It is good to buy on dips around 5520 with SL around 5485 for the TP of 5600/5670.
