Nikkei Trades in Narrow Range , Good to Buy at Dips

Nikkei Trades in Narrow Range , Good to Buy at Dips

7 April 2016, 06:05
Roberto Jacobs
0
6

Nikkei Trades in Narrow Range , Good to Buy at Dips

  • Major Support - 15500 
  • Major resistance - 16300 
  • The index has made a low of 15533 and recovered till  from that level. It  is currently  trading around 15857.Intra day trend is slightly bullish as long as support 15500 holds . 
  • Any break below 15500 confirms minor weakness and decline till 15000/14750 is possible in short term.On the higher side minor resistance is around 15910 and break above targets 16300/16450. 
  • The index short term resistance is around 16450 and break above targets 16800/17000/17300. 
  • Short term bearish invalidation only above 17300.

It is good to buy at dips around 15700 with SL around 15500 for the TP of 16000/16300

The material has been provided by InstaForex Company - www.instaforex.com

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