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

Friday, July 15, 2016 2:29 AM UTC

Major Support -16167 (55 day EMA)
Major Intraday resistance- 16640 (Cloud top)
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.

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

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