- Major support - 16800
- Nikkei225 breaks above 17500 and jumped till 17679. The index is trading well above the trend line resistance and currently trading at 17659 1.39% higher.
- Technically index has closed well above 17000 level and jump till 18000 is possible.
- On the higher side, major resistance is around 17800 and any close above targets 18000/18300.
- The index immediate support is at 17400 (5- day MA) and any break below will drag the index down till 17200 (10- day MA)/16800 in the short term.
- The index should break below 16800 for further weakness.
It is good to buy on dips around 17400 with SL 17200 for the TP of 17800/18000.
