Nikkei225 recovers from the low of 16199, good to buy at dips

• Major Support -16167 (55 day EMA) 
   
• Major Intraday resistance- 16640 (Cloud top) 
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• Nikkei225 has recovered sharply after making a low of 16199. It is currently trading around 16539.
   
• The index upside upside has been capped by ichimoku cloud (16640) and any break above confirms further bullishness.
   
• On the lower side immediate support is around 16160 (55 EMA) and any break below targets 16000/15830.
   
• The Nikkei225 is facing resistance around 16640  and any break above targets 16850/17000/17250. 

It is good to buy on dips around 16450-500 with SL around 16165 for the TP of 16840/17000.