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Nikkei225 breaks major resistance at 165350, targets 17180

  • Major resistance - 16400
     
  • Major support -15600
     
  • The index has broken major resistance 16350 and jumped till 16458 at the time of writing . It is currently trading around 16348.
     
  • Any break above 16350 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) /14350/14000. The minor support is around 15900.
     
  • Short term trend reversal can be seen only above 17200.


It is good to buy above 16350 with SL around 16000 for the TP of 17000/17270

 

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