- Major Resistance- 10750 (trend line joining 11926 and 11432).
- Major support – 10550 (21 day MA).
- The index has once again taken support near 21 day MA and slightly jumped from that level. It is currently trading around 10663.
- Minor term trend is slightly bullish as long as support 10475 (trend line joining 10386 and 10438) holds.
- On the lower side, any violation below 21-day MA will drag the index further down till 10475.Any break below trend line support drags the index further down till 10315 (9-W EMA).
- Any break above 10750 will take the index till 11000/11432 (Nov 2015 high).
It is good to buy on dips around 10580-600 with SL around 10475 for the TP of 10750/11000