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FxWirePro: Nikkei225 opened up on FBI clean chit to Clinton, good to sell on rallies

  • Major support - 16800
     
  • Nikkei225 showed a gap up opening today morning after FBI gives clean chit to Hillary Clinton . The index rose 1.7% to 17184 at the time of writing from the low of 16804, the lowest till Oct 17th.  
     
  • Technically index has slightly recovered after declining til 16804 at the time of writing .But short term trend is still weak as long as resistance 17290 holds.
     
  • On the higher side, major resistance is around 17250 and any break above targets  17500/17695.
     
  • The index immediate support is at 16800 and any break below will drag the index down till 16500/16200 in the short term.

It is good to sell on rallies around 17150  with SL 17300 for the TP of 16870/16520.

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