Friday, October 16, 2026

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Nikkei faces strong support at 15500, good to buy at dips

Major resistance - 16575 (200 day 4 HMA) Major support -15500 The index has retreated after making a high of 16525. It is currently trading around 15896. It is facing major resistance around 16575 and any break above 165…

By Lis Howell
1 min read
Nikkei faces strong support at 15500, good to buy at dips
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  • Major resistance - 16575 (200 day 4 HMA)
  • Major support -15500

  • The index has retreated after making a high of 16525. It is currently trading around 15896.

  • It is facing major resistance around 16575 and any break above 16575 confirms minor trend reversal, jump till 16700/17000/17250 is possible .

  • On the lower side minor support is around 15500 and break below targets around 15200/14880 (200 day W MA).

  • Short term trend reversal can be seen only above 17200.
It is good to buy at dips around 15750 with SL around 15500 for the TP of 16525

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