Nikkei Faces Strong Resistance at 15800, Break Above Targets 16250/16480 - Good to Buy at Dips
- Major Intraday support – 15380 (4H Kijun-Sen)
- Major support -14770 (Feb 2nd 2016)
- Major Intraday resistance- 15800 (90 4H EMA)
- Nikkei 225 has jumped till 15749 today morning and slightly declined from that level.It is currently trading around 15699.
- The index is struggling to break above 15800 (90 4H EMAt) and it should break above that level for further bullishness.
- On the lower side immediate support is around 15500 (90 day EMA) and any break below targets 15380/15250/14990.
- The Nikkei 225 is facing resistance around 15800 (90 4H EMA) and any break above targets 16250/16480.
It is good to buy at dips around 15550 with SL around 15380 for the TP of 15900/16250