Nikkei225 declined sharply after making a temporary top around at 18742 on Thursday after Italy PM resigns after a clear referendum defeat. It is currently trading at 18302 0.33% lower.
Italian PM plans to resign after losing Sunday referendum over constitutional reforms.
•Technically index is slightly bullish as long as support 17930 (21- day MA) holds.
•On the higher side, major resistance is around 18800 and any break above targets 19000/19300 in the short term.
•The index immediate support is at 17930 (21- day MA) and any break below will drag the index down till in the short term.
•The index should break below 16800 for further weakness.
It is good to buy on dips around 18150 for the TP of 17930 for the TP of 18750/19000.
