• Major intraday Support -16595 (55 day EMA).
   
• Major resistance- 17145 (200 day EMA).
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• Nikkei225 has slightly retreated after making a high of 16740 yesterday. It is currently trading around 16686.
   
• The index should break the temporary top formed at 16930 (Jul 21st 2016 high) for further bullishness.
   
• Short term trend is slightly bullish as long as support 16380 (200 HMA) holds. 
   
• Any break above 17000 will take the index to next level 17150/17500. Extreme bullishness can be seen  if the index breaks above 17160 (200 day MA).
   
• On the lower side immediate support is around 16595 and any break below targets 16380/16200/16000.
  
  It is good to buy on dips around 16600 with SL 16380 for the TP of 16780/17000.