FTSE110 Struggles to Break Above 6200, Targets 6065/6005
- Major resistance - 6200 (200 day MA)
- FTSE100 slightly recovered till 6211 yesterday after making a low of 6158.The index is facing immense selling pressure on higher levels mostly near 5200 (200 day MA)
- It should close above 6200 for further upside and is currently trading around 6131.
- On the lower side any break below 6150 will drag the index down till 6100/6065/6005.
- Short term trend reversal only above 6300. The major resistance for the day is around 6200/6258/6300.
It is good to sell on rallies around 6150-6155 with SL around 6200 for the TP of 6065/6005