Thursday, October 15, 2026

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Nikkei225 faces strong support at 16420, good to buy at dips

Major support -16420 ( trend line joining 14770 and 15523) Major Resistance - 17200 The index has recovered after making a low of 16493. It is currently trading around 16784. The index is facing minor resistance around 1…

By Lis Howell
1 min read
Nikkei225 faces strong support at 16420, good to buy at dips
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  • Major support -16420 ( trend line joining 14770 and 15523)
     
  • Major Resistance - 17200
     
  • The index has recovered after making a low of 16493. It  is currently trading around 16784.
     
  • 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 buy at dips around 16600-650 with  SL around 16420 for the TP of 17000/17200

 

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