- Major resistance – 96.40 (trend line joining 96.14 and 96.31 ).
- Major support – 95.
- The index breaks above 200- day MA and jumped till 96.31 at the time of writing. It is currently trading around 96.18.
- On the higher side, resistance is around 96.40 and any close above targets 97/97.60.
- Short term weakness only below 95.
- On the lower side, major support is around 95.45(21- day MA) and break below targets 94.75 (61.8% retracement of 93.02 and 97.57) /94.07 (61.8% retracement of 91.92 and 97.57).
- Overall trend reversal only below 94.08 (61.8% retracement of 91.92 and 97.57).
It is good to buy on dips around 95.80 with SL around 95 for the TP of 96.40/97.60.
