- Major resistance -5441 (55-day EMA).
- Major support - 5350.
- The index has broken major support at 5375 (100-day MA) and declined slightly from that level.It is currently trading around 5374.
- On the higher side,minor resistance is around 5400 and any break above 5400 will take the pair till 5437 (55- day EMA) / 5468 (daily Kijun-Sen)/5500/5520. The index should break above 5625 for further jump till 5700.
- The major support is around 5350 and any break below targets 5333 (50% retracement of 5041 and 5625)/ 5300 (cloud bottom)/5264 in the short term.
It is good to sell on rallies around 5400 with SL around 5440 for the TP of 5300
