- Major support -16500 ( 200 day 4 H EMA)
- Major Resistance - 17200
- The index has retreated after making a high of is currently trading around 16616.
- The index is facing minor resistance around 16800 and any break above targets 17030/17200.
- On the lower side minor support is around 16500 and break below targets around 16200/16000/ minor support is around 16800.
- Short term weakness can be seen only below 15500.
It is good to sell on rallies around 16950-17000 with SL around 17200 for the TP of 16500.
