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- Major resistance- 5560 (Aug 9th 2016 high).
- Major support - 5500 (trend line joining 5483 and 5459).
- The index has once again recovered after making a low of 5506 on Friday. It is currently trading around 5538.
- On the higher side,major resistance is around 5560 and any break above will take the index to next level at 5625 (Aug 1st high)/5700.
- The minor support is around 5500 and any break below targets 5460/5400 in the short term.
It is good to sell on rallies around 5520 with SL around 5570 for the TP of 5450/5400
