Asian markets are trading higher especially Shanghai composite trading more than 2.5% on account of US-China trade talks optimism.US President Trump has delayed deadline for tariff hike on Chinese goods as “substantial progress” during trade talks happened previous week. Nikkei is trading slightly higher following footsteps of US markets. US market has closed slightly higher with Dow Jones at 26031 (0.70% higher) and S&P500 2792 (0.64% higher).USDJPY is trading flat after hitting high of 111.12.It is facing strong resistance around 111.40 and is currently trading around 110.63.
On the lower side, near term support is around 21300 and any break below targets 21077/21000/20800.The index should break below 20800 for further direction.
The near term resistance is at 21550 (300- day EMA) and any break above targets 21700/21918.
It is good to buy on dips around 21150-200 with SL around 20900 for the TP of 21500/21700.
