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Long

Nikkei225 faces support around 55 W EMA, good to buy at dips

FX:JPN225   Nikkei 225 index of Japanese listed shares
89 0 4
Major support - 18600 ( 55 W EMA)

The index has declined till 18535 on previous week and recovered from that level. Nikkei has made a low of 18640 yesterday and jumped from that level. it is currently trading around 18881.

Minor short term resistance is around 19170 (12 M MA) and break above targets 19300/19460/19690.

On the lower side major support is around 18500 and break below targets 18070/17900.

It is good to buy at dips around 18750-800 with SL around 18500 for the TP of 19165/19300
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