- Major support - 5495 (4H Kijun-Sen)
- The index has recovered sharply after making a low of 5485 yesterday. It is currently trading around 5539.
- Overall trend is bullish as long as the support 5450 (55 4H EMA) holds.
- Any break above major resistance 5550 will take the index to next level till 5600/5645 in the short term.
- On the lower side, support is around 5495 (21 4HMA) and any violation below that level will drag the index till 5465/5450/5390.
It is good to buy on dips around 5520 with SL around 5490 for the TP of 5550/5600.
