Major Support -15833 (daily Kijun-Sen)
Major Intraday resistance- 16640 (Cloud top)
- Nikkei225 has jumped till 16536 yesterday and slightly declined from that level. It is currently trading around 16314.
- The index upside upside has been capped by ichimoku cloud and any break above confirms further bullishness.
- On the lower side immediate support is around 16160 (55 EMA) and any break below targets 16000/15830.
- The Nikkei225 is facing resistance around 16640 and any break above targets 16850/17000/17250.
It is good to buy on dips around 16000 with SL around 15800 for the TP of 16600/16840
