• Major resistance- 7000
   
• Major support - 6720 (trend line joining 5727 and 6609)
   
• The FTSE100 index is trading in narrow range between 6889 and 6752 for the past six trading session. It is currently trading around 6797.


• On the lower side, any break below 6720 will drag the index down till 6610 (Nov 9th low)/6520 (200- day MA).
   
• The major resistance is around 7000 and any indicative break above will take the index till 7130/7300 (127.2% retracement of 7130 and 6609). The minor resistance is around 6845 (55-day EMA)/6931 (61.8% retracement of 7130 and 6609).
  
  It is good to buy on dips around 6770-75 with SL around 6700 for the TP of 6930/7000