Nikkei225 faces strong resistance at 17000, good to buy at dips
Major resistance - 17000 The index recovered till 16984 at the time of writing after gap down yesterday. It is currently trading around 16336.Short term trend is slightly bullish as long as support 16200 holds. The index…
The index recovered till 16984 at the time of writing after gap down yesterday. It is currently trading around 16336.Short term trend is slightly bullish as long as support 16200 holds.
The index major resistance is around 17000 and any break above will take the index to next level 17300/17600/17878 (29th Jan 2016)
On the lower side major support is around 16200 and break below will drag the index down till 16000/15800 (cloud top) in short term.The minor support is around 16490 (Tenken-Sen).
Short term weakness can be seen only below 15000.
It is good to buy at dips around 16450-16490 with SL around 16200 for the TP of 17000/17260.
