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Nikkei trades slightly above 18000, jump till 18300 likely

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.

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