Nikkei225 has declined slightly below 19000 psychological level and recovered slightly from that level. It is currently trading around 19181 0.66% higher.
•Technically index major support stands at daily Kijun-Sen and any break below will confirm further weakness.
•On the higher side, minor resistance is around 19350 (10- day MA) and any break above will take the index till 19700 (161.8% retracement of 19542 and 19273) / 20000/20280 in the short term.
•The index immediate support is at 18930 (daily Kijun-Sen) and any break below will drag the index down 18818 (23.6% retracement of 16106 and 19653)/ 18750 (34- day EMA)/18500.
•The index should break below 18000 for further weakness.
It is good to buy on dips around 19000 with SL around 18700 for the TP of 19700/20000.
