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FxWirePro:NIkkie225 takes support at 10- day MA, good to buy on dips

Nikkei225 is trading in narrow range between 19653 and 19318 on low volumes due to Christmas holiday. The index shown a dip till 19318 and slightly recovered from that level. It is currently trading around 19431 0.03% lower.

•Technically index is expected to trade higher as long as support 19200 holds.

•On the higher side, major resistance is around 19700 (161.8% retracement of 19542 and 19273) and any break above will take the index till 20000/20280 in the short term.

•The index immediate support is at 19287 (10-day EMA) and any break below will drag the index down 19000/18896 (21- day MA).

•The index should break below 18000 for further weakness.

 It is good to buy on dips around 19200 with SL around 19200 for the TP of 19700/20000. 

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