Major intraday support - 5424.(100-day MA)
•Major resistance - 5505 (Oct 11th 100- day MA).
•The index has taken support around 100- day MA and started to recover from that level. It is currently trading around 5482.
•ASX200 faces strong support at 5425 (100- day MA) and any break below targets 5346 (21- day MA).
•On the higher side, resistance is at 5505 and any break above targets 5548/5625/5700.
•The major support is around 5425 (100- day MA) and break below targets 5350/5338 (21- day MA).
It is good to buy on dips around 5450-55 with SL at 5400 for the TP of 5520/5620.
