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 19421 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 19290 (55-4H EMA) and any break below will drag the index down 19000/19000 (100- 4H EMA).
•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.
