- Major support -16820 (200- day MA).
- Nikkei225 has broken major support at 200- day MA at 16796 and trades
slightly below that level.It is currently trading around 16693.
- The index has formed temporary top around 17159 and is struggling to break
that level. It should break above that level for further bullishness.
- On the higher side, next immediate resistance is around 17000 and any break
above will take the index to temporary top formed at 17159/17330.
- The major support is around 16525 (daily Kijun-Sen) and any break below 16525 will drag the pair till 16400/16290.
It is good to sell on rallies around 16800 with SL 17000 for the TP of 16525/16400