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