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- Major resistance- 6956
- Major support - 6600
- The index has once again retreated from the high of 6939 made in the previous week. It is currently trading around 6835.
- FTSE100 has formed a temporary top around 6956 and any major trend reversal can happen only above that level.
- The index takes support near 9- W EMA (6770) and slightly jumped from that level. Any close below 9- WEMA will drag the index down till 6660 (23.6% retracement of 5727 and 6896)/6600.
- On the higher side, any break above temporary top will take the index till 7000/7147 (161.8% retracement of 6956 and 6646) level.
It is good to sell on rallies around 6850 with SL around 6960 for the TP of 6625
