Major support -16398 (100- day MA). Nikkei225 has broken major support at 16398 and declined till 16336 at the time of writing.It is currently trading around 16391. The index is declining for the past three trading sessi…
Nikkei225 has broken major support at 16398 and declined till 16336 at the time of writing.It is currently trading around 16391.
The index is declining for the past three trading session on continued pressure on US equity markets.
On the higher side, next immediate resistance is around 16568 (90- day EMA) and any break above will take the index till 16755 (200- day MA)/16835/17000.
The major support is around 16260 (38.2% retracement of 14823 and 17159) and any break below 16260 will drag the pair till 16035 (cloud bottom).
It is good to sell on rallies around 16500 with SL 16755 for the TP of 16035
