Major support – 5750 (200- H MA).
•ASX200 is trading in narrow range between 5832 and 5745 for the past three trading session. It is currently trading around 5785.
•The index upside capped by 161.8% fibo and any close above confirms further bullishness.
•Any violation below 200- HMA will drag the pair down till 5660/5600 (61.8% Retracement of 5516 and 5755).
•On the higher side, major resistance is at 5797 and any violation above will take the index till 5940/6000.
It is good to buy on dips around 5740 with SL around 5680 for the TP of 5797/5900.
