Support
2083 (200-DMA)
2062.8 (June 17 low)
2047 (38.2% of Feb low – Aug high)
Resistance
2103 (23.6% of Feb low – Aug high)
2114.7 (Oct 13 low)
2145 (100-DMA)
Comments – Profit taking on shorts appears to have aided the moderate recovery from the 200-DMA support of 2083. Overall, the bear grip remains intact so long as the index remains below crucial resistance (earlier a strong support) of 2120.
2083 (200-DMA)
2062.8 (June 17 low)
2047 (38.2% of Feb low – Aug high)
Resistance
2103 (23.6% of Feb low – Aug high)
2114.7 (Oct 13 low)
2145 (100-DMA)
Comments – Profit taking on shorts appears to have aided the moderate recovery from the 200-DMA support of 2083. Overall, the bear grip remains intact so long as the index remains below crucial resistance (earlier a strong support) of 2120.
