FTSE100 faces strong resistance at 6245,good to sell on rallies
Major resistance – 6245(200 day MA)
Major support - 6080
The index has retreated after making a high of 6220 yesterday. It is currently trading around 6165.
Major resistance is around 6245 (200 day MA) and any break above 6245 confirms major trend reversal, jump till 6325/6348 is possible. The minor resistance is around 6220.
On the lower side minor support is around 6140 and break below targets 6100/6080/6000.
It is good to sell on rallies around 6175-80 with SL around 6245 for the TP of 6080/6005
Major support - 6080
The index has retreated after making a high of 6220 yesterday. It is currently trading around 6165.
Major resistance is around 6245 (200 day MA) and any break above 6245 confirms major trend reversal, jump till 6325/6348 is possible. The minor resistance is around 6220.
On the lower side minor support is around 6140 and break below targets 6100/6080/6000.
It is good to sell on rallies around 6175-80 with SL around 6245 for the TP of 6080/6005
