Nikkei225 trades below 17000, decline till 16400 likely

• 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