- Major resistance - 16488 (21 W EMA)
- Nikkei Index has recovered sharply after making a low of 15574. The index has broken major resistance 16000 on hopes that Britain will stay in EU.
- Short term trend is slightly bullish as long as support 15500 (200 W MA) holds .
- The index major weekly resistance is around 16488 (21 W MA) and any break above 16488will take the index to next level till 16825 (61.8% retracement of 17770 and 15260)/17000. The index should break above 17420 for further bullishness
- Overall trend reversal is at 15500 (200 W MA) and any break below targets 15250/15000/14800.the minor support is around 15900/15665.
It is good to buy at dips around 15850 with SL around 15500 for the TP of 16280/16485
