- Nikkei opened flat and shown a good jump in Asian session on account of positive global cues. The index jumped more than 250 points from the today’s open. US markets Dow jones and S&P500 has closed almost 1% higher yesterday on earnings hopes and easing geopolitical tensions in Korea. US futures continuing its yesterday bullishness and is trading slightly higher with Dow jones at 24815 (0.3% higher) and S&P500 2712 (0.22%).It is currently trading around 22186 1.37% higher.
- US stocks Netflix and Goldman Sachs have posted better than expected earnings. According to Thomson Reuters, S&P500 earnings are expected to increase 18.6% in the quarter.
- USD/JPY has once again declined after showing a minor jump above 55- day EMA. The pair hits low of 106.99 almost 100 pips from the high. It is currently trading around 107.03.
- On the lower side, index major support is around 21680 (55- 4H EMA) and any break below will drag the index down till 21410 (200- 4H MA)/21200.
- The near term resistance is around 22200 and any break above will take the index to next level till 22420/22600.
It is good to buy on dips around 21800-825 with SL at 21650 for the TP of 22200/22420.
- Nikkei opened flat and shown a good jump in Asian session on account of positive global cues. The index jumped more than 250 points from the today’s open. US markets Dow jones and S&P500 has closed almost 1% higher yesterday on earnings hopes and easing geopolitical tensions in Korea. US futures continuing its yesterday bullishness and is trading slightly higher with Dow jones at 24815 (0.3% higher) and S&P500 2712 (0.22%).It is currently trading around 22186 1.37% higher.
- US stocks Netflix and Goldman Sachs have posted better than expected earnings. According to Thomson Reuters, S&P500 earnings are expected to increase 18.6% in the quarter.
- USD/JPY has once again declined after showing a minor jump above 55- day EMA. The pair hits low of 106.99 almost 100 pips from the high. It is currently trading around 107.03.
- On the lower side, index major support is around 21680 (55- 4H EMA) and any break below will drag the index down till 21410 (200- 4H MA)/21200.
- The near term resistance is around 22200 and any break above will take the index to next level till 22420/22600.
It is good to buy on dips around 21800-825 with SL at 21650 for the TP of 22200/22420.
