• Asian markets are trading higher with Chinese market performing better than other markets. Chinese yuan is continuing its weakness with on-shore yuan at 6.8088 and off-shore yuna at 6.8250 lowest level more than a year.Shanghai is trading higher more than 1.5% at 2907. US market has closed flat with Dow Jones at 25044 (0.06% lower) and S&P500 2806 (0.18% higher). USD/JPY which is the main indicator of geo political tension has shown a minor recovery from low of 110.75. But overall trend is weak only. US futures is trading higher with Dow Jones at 25127 (0.30% higher) and S&P500 2815 (0.25% higher). Nikkei is currently trading around 22510 0.19% lower.
   
• USD/JPY has shown a minor recovery till 111.35 after hitting low of 110.75. It is currently trading around 111.32.
   
• On the lower side, index major support is around 22370 (55- day EMA) and any break below will drag the index down till 22195/22000/21750/21460.
   
• The near term resistance is around 22425 (50- day MA) and any convincing break above will take the index to next level till 22800/23050.
  
  It is good to buy on dips around 22300-350 with SL at 22190 for the TP of 22780/23040.