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- Major support – 7180 (50- day MA)
- Major resistance- 7322
- FTSE100 has taken support near 50- day MA and jumped sharply from that level. The index temporary top is around 7322 and any break above confirms major bullishness. It is currently trading around 7261.
- On the lower side, any break below 7180 will drag the index down till 7145 (Feb 8th 2017)/7090 (Feb 2nd 2017 low).
- Any break above temporary top at 7322 confirms further bullishness, a jump till 7369 (161.8% retracement of 7322 and 7253)/7400.
It is good to buy on dips around 7225-7230 with SL around 7180 for the TP of 7322.
