Asian markets are trading slightly mixed after release of China economic data. China’s industrail output came at slightly better than expectations but retail sales and fixed asset investment shown a minor jump but slight…
Asian markets are trading slightly mixed after release of China economic data. China’s industrail output came at slightly better than expectations but retail sales and fixed asset investment shown a minor jump but slightly misses estimate. US markets has pared some of its gains in yesterday after showing a minri jump. US futures is trading marginally negative with Dow Jones at 24888 (0.04% lower) and S&P500 2726 (0.06% higher). It is currently trading around 22804 0.46% higher.
USD/JPY recovered till 109.87 after a decline till 109.20.Any close above 110 confirms minor bullishness and a jump till 111/112 likely.
On the lower side, index major support is around 22296 (100- day MA) and any break below will drag the index down till 22158 (daily Kijun-Sen)/22000/21697 (Apr 13th low).
The near term resistance is around 22800 and any break above will take the index to next level till 23000/23280.
It is good to buy on dips around 22500 with SL at 22300 for the TP of 22800/23000.
