Major resistance - 16400
Major support -15600
The index has broken major resistance 16350 and jumped till 16458 at the time of writing . it is currently trading around 16348.
Any break above 16350 confirms minor trend reversal , jump till 16700/17000/17250 is possible .
On the lower side minor support is around 15500 and break below targets around 15200/14880 (200 day W MA) /14350/14000. The minor support is around 15900.
Short term trend reversal can be seen only above 17200.
It is good to buy above 16350 with SL around 16000 for the TP of 17000/17270
Major support -15600
The index has broken major resistance 16350 and jumped till 16458 at the time of writing . it is currently trading around 16348.
Any break above 16350 confirms minor trend reversal , jump till 16700/17000/17250 is possible .
On the lower side minor support is around 15500 and break below targets around 15200/14880 (200 day W MA) /14350/14000. The minor support is around 15900.
Short term trend reversal can be seen only above 17200.
It is good to buy above 16350 with SL around 16000 for the TP of 17000/17270