• Major intraday resistance- 16421 (55- HMA).
   
• Major support - 16260 (38.2% retracement of 14823 and 17159).
   
• Nikkei225 has recovered sharply after decling till 16316 at the time of writing.It is currently trading around 16511.
   
• The index is trading slightly above Tenken-Sen (16440),kijun-sen (16440.50) and also above 55-H EMA. So a jump till 16655 (200- H MA)/16800 is possible.
   
• Market awaits two major central banks meeting tomorrow for further direction.
   
• On the higher side,  next immediate resistance is around 16655 (200-H MA) and any break above will take the index till 16718 (200-day MA). 
    
• The major support is around 16260 (38.2% retracement of 14823 and 17159) and any break below 16260 will drag the pair  till 16035 (cloud bottom).
  
  It is good to buy on dips around 16450-470 with SL 16300 for the TP of 1650/16720