Nikkei225 faces support around 55 W EMA, good to buy at dips
Major support - 18600 ( 55 W EMA)
The index has declined till 18535 on previous week and recovered from that level. Nikkei has made a low of 18640 yesterday and jumped from that level. it is currently trading around 18881.
Minor short term resistance is around 19170 (12 M MA) and break above targets 19300/19460/19690.
On the lower side major support is around 18500 and break below targets 18070/17900.
It is good to buy at dips around 18750-800 with SL around 18500 for the TP of 19165/19300
The index has declined till 18535 on previous week and recovered from that level. Nikkei has made a low of 18640 yesterday and jumped from that level. it is currently trading around 18881.
Minor short term resistance is around 19170 (12 M MA) and break above targets 19300/19460/19690.
On the lower side major support is around 18500 and break below targets 18070/17900.
It is good to buy at dips around 18750-800 with SL around 18500 for the TP of 19165/19300