- Nikkei225 has jumped from the low of 16774 made on Friday. It is currently trading around 16884.
- 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 resistance 16498 holds.
- Any break above 17000 will take the index to next level 17100/17500. Extreme bullishness can be seen if the index breaks above 17100 (200 day MA).
- On the lower side immediate support is around 16740 (90 H EMA) and any break below targets 16500/16200/16000.
It is good to buy on dips around 16700 with SL 16490 for the TP of 17000/17100.
