FxWirePro:Nikkie225 struggles to close above 10-day MA, good to sell on rallies
Major support - 16800 Nikkei225 jumped till 17312 at the time of writing on improving prospectus for Clinton to win U.S Presidential elections . The index has shown a some sort of profit booking and currently trading at …
Nikkei225 jumped till 17312 at the time of writing on improving prospectus for Clinton to win U.S Presidential elections . The index has shown a some sort of profit booking and currently trading at 17162 0.88% lower.
Technically index is trading well above 17000 level and any break below 16800 confirms further weakness.
On the higher side, major resistance is around 17230 (10- day MA) and any close above targets 17500/17695.
The index immediate support is at 16800 and any break below will drag the index down till 16500/16200 in the short term.
It is good to buy on dips around 17150 with SL 17300 for the TP of 16870/16520.
