Nikkei225 is trading flat after hitting fresh ten month high yesterday. The index has made a high of 19272 and is currently trading around 19137 0.10% lower.
Market awaits US Fed monetary policy meeting on Wed for further direction.
Technically index is slightly bullish as long as support 18845 (5- day MA) holds.
•On the higher side, major resistance is around 19300 and any break above targets 19445 (78.6% retracement of 20720 and 14730)/19600 in the short term.
•The index immediate support is at 18845 (5- day MA) and any break below targets 18637 (10- day MA)/18361 (21- day MA)/ 18000.
•The index should break below 16800 for further weakness.
It is good to buy on dips around 19000 with SL around 18800 for the TP of 19440/19600.
