Major Support -16428 (90 day EMA)
Major Intraday resistance- 17000
- Nikkei225 has retreated after making a high of 16760 at the time of writing.It is currently trading around 16652.
- The index is facing psychological resistance at 17000 and any break above confirms further bullishness.
- On the lower side immediate support is around 16541 (7 day EMA) and any break below targets 16428 (90 day EMA)/16250 (55 dy EMA).
- The Nikkei225 is facing resistance around 17000 and any break above targets 17250/17480.
It is good to sell on rallies around 16850 with SL around 17000 for the TP of 16425/16210.
