• Major support   - 5530 (4H Kijun-Sen)
   
• The index has retreated after making a high of 5579 at the time of writing. It is currently trading around 5547.
   
• Overall trend is bullish as long as the support 5480 (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.