Nikkei225 Faces Strong Support at 16420, Good to Buy at Dips

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 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.