- Major resistance – 6180 (200 day 4 H EMA)
- Candle stick pattern formed- Hanging man
- FTSE100 slightly recovered till 6158 after making a low of 6053 .The index is facing immense selling pressure on higher levels mostly near 6180-6200 (200 day MA)
- It should close above 6200 for further upside and is currently trading around 6150.
- On the lower side any break below 6100 will drag the index down till 6065/6005.The index should break below 6000 for further weakness.
- Short term trend reversal only above 6300. The major resistance for the day is around 6200/6258/6300.
It is good to buy at dips around 6100-6110 with SL around 6050 for the TP of 6200/6282.
