- Major Support -16167 (55 day EMA)
- Major Intraday resistance- 16640 (Cloud top)
- Nikkei225 has recovered sharply after making a low of 16199. It is currently trading around 16539.
- The index upside upside has been capped by ichimoku cloud (16640) and any break above confirms further bullishness.
- On the lower side immediate support is around 16160 (55 EMA) and any break below targets 16000/15830.
- The Nikkei225 is facing resistance around 16640 and any break above targets 16850/17000/17250.
It is good to buy on dips around 16450-500 with SL around 16165 for the TP of 16840/17000.
