The Index fell below 7417 from the opening of the last trading session and only recovered a bit of its losses during the last hour of the trading session. It managed to break and hold above 7333 support closing at 7344. There are two critical price points that I would like to point out.
1. Resistance at around 7416 - need to break this level before we could see further moves to the upside
2. Support at around 7290 - failure to hold at this point could see the index fall to around 72261-72225
1. Resistance at around 7416 - need to break this level before we could see further moves to the upside
2. Support at around 7290 - failure to hold at this point could see the index fall to around 72261-72225