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Nikkei225 trades higher, good to sell on rallies

Nikkei225 continues its winning streak on account of higher U.S  stock markets .The index has formed a temporary top around 18742 and not able to close above  level.

The index jumped till 18721 and is currently trading at 18673 0.28% higher.

•Technically index is slightly bullish as long as support 18200 holds.

•On the higher side, major resistance is around 18800 and any break above targets 19000/19300 in the short term.

•The index immediate support is at 18400 (10- day MA) and any break below targets 18059 (21- day MA)/ 17840 (34- day EMA).

•The index should break below 16800 for further weakness.

 It is good to buy on dips around 18400 for the TP of 18200 for the TP of 18750/19000.

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