- Major resistance - 16420 (trend line joining 16930 and 17159).
- Nikkei225 has recovered sharply after declining till 17270 yesterday.It is currently trading around 17432.
- Technically index is trading above trend line , a jump till 17695 is possible.
- On the higher side, resistance is around 17420 (trend line joining 16930 and 17159) and any break above targets 17695/18000.
- The major support is around 17277 (7- day EMA) and any break below targets 17145 (daily Tenken-Sen)/17000.
It is good to buy on dips around 17300 with SL 17145 for the TP of 17695/17800.
