• Major resistance- 7000
   
• Major support - 6720 (trend line joining 5727 and 6609)
   
• The FTSE100 index has taken support near trend line and recovered sharply from that level. It is currently trading around 6812.
   
• On the lower side, any break below 6720 will drag the index down till 6610 (Nov 9th low)/6520 (200- day MA).
   
• The major resistance is around 7000 and any indicative break above will take the index till 7130/7300 (127.2% retracement of 7130 and 6609). The minor resistance is around 6885 (Nov 23rd high)/6931 (61.8% retracement of 7130 and 6609).
  
  It is good to buy on dips around 6800 with SL around 6720 for the TP of 6930/7000