- Asian markets are trading positive after a minor jump in US futures on Trump China tweet yesterday. President Donald Trump twitted that it “will all work out” and also pledged to help Chinese telecom company ZTE corp to “get back to business, fast”. US futures is trading marginally positive with Dow Jones at 24943 (0.40% higher) and S&P500 2737 (0.31% higher). It is currently trading around 22804 0.46% higher.
- USD/JPY recovered till 110.01 and shown a minor selling from that level. 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 22042 (daily Kijun-Sen)/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.
