Nikkei has retreated after making a high of 19537 and declined till 19198. It is currently trading around 19335.
The index has broken major resistance 19300 just now a jump till 19500 is possible . The major resistance is around 19525 (200 day MA) and break above confirms further bullishness , a jump till 19800/20000 is possible .
But the index should close above 20000 for overall trend reversal. Close above 20000 will take the index to next target around 20300/20500
On the lower side support is around 19200 and any break below targets 19000/18800/18500.
It is good to buy at dips around 19200 with SL around 19000 for the TP of 19525/19800
The index has broken major resistance 19300 just now a jump till 19500 is possible . The major resistance is around 19525 (200 day MA) and break above confirms further bullishness , a jump till 19800/20000 is possible .
But the index should close above 20000 for overall trend reversal. Close above 20000 will take the index to next target around 20300/20500
On the lower side support is around 19200 and any break below targets 19000/18800/18500.
It is good to buy at dips around 19200 with SL around 19000 for the TP of 19525/19800