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- Pattern Formed- Inverse Head and Shoulder
- Major resistance – 6410 (Trend line joining 6487 and 6433)
- FTSE100 has made a high of 6384 and not able break above neckline. It has declined drastically after Britain votes to leave EU.
- The FTSE index has broken below 6000 and declined till 5727. Short term trend is weak and a decline till 5490 (inverse Head and shoulder)/5225/5000 is possible.
- On the higher side major resistance is around 6135 (61.8% retracement of 6384 and 5727)/ 6245/6385.
It is good to sell on rallies around 6130-6150 with SL around 6385 for the TP of 5500/5225.
