Major resistance- 6760 (Jul 25th high) The index has once again retreated after making a high 6758 and started to decline from that level. It is currently trading around 6738. Short term trend is slightly weak as long as…
The index has once again retreated after making a high 6758 and started to decline from that level. It is currently trading around 6738.
Short term trend is slightly weak as long as resistance 6760 holds.
On the higher side, any break above temporary top around 6760 will take the index to 6784 (161.8% retracement of 6743 and 6677)/6814 (161.8% retracement of 6743 and 6610)/6850.
The minor support is around 6717 (trend line joining 6662 and 6690) and nay break below targets 6681 (trend line joining 6610 and 6662) and break below targets 6553 (61.8% retracement of 6742 and 6433)/6500.
It is good to sell on rallies around 6715-6720 with SL around 6760 for the TP of 6610/6555
