Major support - 20800
Asian markets are trading higher especially Shanghai jumped more than 0.5%.Global markets shown a major sell-off on Monday after US 10 year yield trades below US 3 month yield. Markets recovered sharply yesterday with Nikkei jumped more than 3% on short covering and slight jump in US bond yield. USDJPY has halted its weakness and shown a minor recovery of more than 100 pips. US markets has closed slightly higher with Dow Jones at 25567 (0.55% higher) and S&P500 2818 (0.72% higher). Nikkei has lost more than 250 500 points from high of 21533 and is currently trading around 21331.
On the lower side, near term support is around 20800 and any break below targets 20480/20350/20185.
The near term resistance is at 21535 (300-day EMA) and any break above targets 21680/21755 (200- day MA).
It is good to buy on dips around 21200-225 with SL around 21000 for the TP of 21530.
