Minor trend line support-21500
Asian markets are trading lower following foot steps of US market.Wall Street has closed lower for third consecutive day with Dow Jones at 25673 (0.52% lower) and S&P500 2771 (0.65% lower).Nikkei has formed a top around 21873 and declined nearly 450 points.It hits intraday low of 21409. USDJPY lost more than 50 pips from high of 112.13 level.It is currently trading around 111.69.
On the lower side, near term support is around 21400 (200-2H MA) and any break below targets 21260/21000.The index should break below 20800 for further direction.
The near term resistance is at 21650 and any break above targets 21918/22000/22200.
It is good to sell on rallies around 21750-800 with SL around 22000 for the TP of 21280.
