- Major Support -16240 (Jul 26th low) .
- Major resistance- 17000
- Nikkei225 has retreated after making a high of 16657 and declined till 16380 at the time of writing .It is currently trading around 16450.
- The minor resistance is around 16586 (4 Hour Kijun-Sen) any break above targets 16850.It should break above 17250 (200 day MA) for further bullishness.
- On the lower side immediate support is around 16240 (Jul 26th low) and any break below targets 16000/15876 (daily Tenken-Sen).
It is good to sell on rallies around 16550-16600 with SL around 16800 for the TP of 16240/16000.
