Asian markets are trading weak especially Hang sang lost almost 0.75% following footsteps of US markets . This week is packed with Central bank meetings with Fed to meet on Tuesday and Wed and BOJ policy meeting that end…
Asian markets are trading weak especially Hang sang lost almost 0.75% following footsteps of US markets . This week is packed with Central bank meetings with Fed to meet on Tuesday and Wed and BOJ policy meeting that ends on Tuesday.US market has closed mixed with Dow Jones at 25451 (0.30% lower) and S&P500 2818 (0.66% lower). USD/JPY which is the main indicator of geo political tension is trading higher after hitting minor bottom temporary bottom ar 110.58. US futures is trading flat with Dow Jones at 25397 (0.13% lower) and S&P500 2808 (0.25% lower). Nikkei is currently trading around 22694 0.47% higher.
USD/JPY is trading slightly lower after hitting high of 111.24 and is currently trading around 111.02 (0.05% lower).
On the lower side, index major support is around 22420 (55- day EMA) and any break below will drag the index down till 22270/22000/21750/21460.
The near term resistance is around 22800 and any convincing break above will take the index to next level till 23050/23200.
It is good to buy on dips around 22450-500 with SL at 22270 for the TP of 23040.
