Nikkei225 faces strong support at 16420 break below targets 1550

• Major support -16420 ( trend line joining 14770 and 15523)
   
• Major Resistance - 17200
   
• The index has made a low of 16493 at the time of writing and slightly recovered from that level. It  is currently trading around 16553.
   
• The index is facing minor resistance around 16800 and any break above targets 17030/17200.
   
• On the lower side major support is around 16420 and break below targets around 16200/16000/15500.
   
• Short term weakness can be seen only below 15500.

It is good to sell below 16420 with  SL around 16800 for the TP of 16000/15600