- Major resistance - 16400
- Major support -15600
- The index is consolidating between narrow range 15600 and 16340 for the past five trading session. it is currently trading around 15934.
- The index is facing strong resistance around 16340 and any break above 16340 will take the pair to next level 16700/17000. On the lower side minor support is around 15500 and break below targets around 15200/14880 (200 day W MA) /14350/14000
- Short term bullishness can be seen only above 16340.
It is good to buy above 16350 with SL around 16000 for the TP of 17000/17270
