Major support – 5740 (200- H MA).
•ASX200 has recovered till 5796 after making a low 5746 . It is currently trading around 5776.
•The index upside capped by psychological resistance at 5800 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 5720-30 with SL around 5660 for the TP of 5797/5900.
