- Asian markets are trading slightly mixed after release of China economic data. China’s industrail output came at slightly better than expectations but retail sales and fixed asset investment shown a minor jump but slightly misses estimate. US markets has pared some of its gains in yesterday after showing a minri jump. US futures is trading marginally negative with Dow Jones at 24888 (0.04% lower) and S&P500 2726 (0.06% higher). It is currently trading around 22804 0.46% higher.
- USD/JPY recovered till 109.87 after a decline till 109.20.Any close above 110 confirms minor bullishness and a jump till 111/112 likely.
- On the lower side, index major support is around 22296 (100- day MA) and any break below will drag the index down till 22158 (daily Kijun-Sen)/22000/21697 (Apr 13th low).
- The near term resistance is around 22800 and any break above will take the index to next level till 23000/23280.
It is good to buy on dips around 22500 with SL at 22300 for the TP of 22800/23000.
