Minor Support - 17780 (5- day MA).
•Nikkei225 trades higher on account of weaker yen and closed slightly above 18000. The index has made a high of 18107 on 17th Nov and is currently trading at 18070 0.28% higher.
•Technically index is slightly bullish as long as support 17420 (21- day MA) holds.
•On the higher side, major resistance is around 18300 and any break above targets 18500/18800 in the short term.
•The index immediate support is at 17780 (5- day MA) and any break below will drag the index down till 17625 (10- day MA)/17420 (21- day MA)/17200 in the short term.
•The index should break below 16800 for further weakness.
It is good to buy on dips around 17700-750 with SL 17470 for the TP of 18300/18500.
