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

10 March 2016, 05:06
Roberto Jacobs
Roberto Jacobs
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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 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

The material has been provided by InstaForex Company - www.instaforex.com
#Nikkei225, Faces Strong Support, at 16420, Good to Buy at Dips