- Major resistance- 2167 (10- W MA).
- Major support – 2060 (40- WMA).
- S&P500 has shown a fast recovery after declining till 2141 yesterday. It is currently trading around 2160.10.
- Short term resistance stands at 10- W MA and any break above confirms minor trend reversal, a jump till 2179.90/2193 is possible.
- On the lower side, support is around 2135 (61.8% retracement of 2108 and 2179.90) and any break below targets 2108/2092 (50% retracement of 1989.80 and 2193.90).
- Overall weakness only below 2060 (40- W MA).
It is good to buy on dips around 2145-2150 with SL around 2125 for the TP of 2180/2193
