Nikkei continues to trade lower for 2nd consecutive day and lost more than 400 points following footsteps of global markets.US CPI came slightly weaker than expected. US 10 year bond yield lost more than 3% after CPI data.Asian markets are trading slightly lower
- Renewed trade tension between US and China. Trump threatened to impose tariffs of $300 bn if Chines President XI miss to attend G20 meeting.
On the higher side, near term resistance is around 21300 and any violation above will take the index to next level till 21437/21550/21681.
The near term support is around 20830 and any convincing break below will drag the index down till 20650/20458/20288.
It is good to buy on dips around 20850-900 with SL around 20600 for the TP of 21280/21437.
