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- Major resistance- 5555 (Aug 9th 2016 high).
- Major support - 5498 (daily Kijun-Sen).
- The index has once again declined after making a high of 5546 at the time of writing. It is currently trading around 5516.
- On the higher side,major resistance is around 5560 and any break above will take the index to next level at 5611 (Aug 1st high)/5700.
- The minor support is around 5498 (daily Kijun-Sen) and any break below targets 5450 (200 4H MA)/5400 in the short term.
It is good to sell on rallies around 5520 with SL around 5570 for the TP of 5450/5400
