Minor Support - 18152 (10- day MA).
•Nikkei225 is trading cautious as market awaits Italy referendum and OPEC meeting which to be held today. The index is trading in narrow range between 18482 and 18209 for the past four trading sessions. It is currently trading at 18332 0.08% lower.
The Japanese yen has once again slightly strengthened yesterday after declining till 113.33. The pair is currently trading around 112.38.
•Technically index is slightly bullish as long as support 18195 (10- day MA) holds.
•On the higher side, major resistance is around 18500 and any break above targets 18800/19000 in the short term.
•The index immediate support is at 18195 (10- day MA) and any break below will drag the index down till 17700 (21 day MA) in the short term.
•The index should break below 16800 for further weakness.
It is good to buy on dips around 18150-180 with SL 18000 for the TP of 18500/18780.
