Major resistance - 17300
The index has broken major resistance 17300 and jumped till 17367 at the time of writing. It is currently trading around 17359..Short term trend is slightly bullish as long as support 16500 (21 day MA) holds.
The index major resistance is around 17300 and any break above will take the index to next level 17600/17878 (29th Jan 2016)
On the lower side major support is around 16500 and break below will drag the index down till 16200(Daily Kijun-Sen)/16000/15800 (cloud top) in short term. The minor support is around 16900 (7 day EMA).
Short term weakness can be seen only below 15000.
It is good to buy at dips around 17200 with SL around 16900 for the TP of 17600/17878.
The index has broken major resistance 17300 and jumped till 17367 at the time of writing. It is currently trading around 17359..Short term trend is slightly bullish as long as support 16500 (21 day MA) holds.
The index major resistance is around 17300 and any break above will take the index to next level 17600/17878 (29th Jan 2016)
On the lower side major support is around 16500 and break below will drag the index down till 16200(Daily Kijun-Sen)/16000/15800 (cloud top) in short term. The minor support is around 16900 (7 day EMA).
Short term weakness can be seen only below 15000.
It is good to buy at dips around 17200 with SL around 16900 for the TP of 17600/17878.