Nikkie225 faces strong support at 14770, good to buy at dips

FX:JPN225   Nikkei 225 Index
134 0 6
Major support – 14770 (Feb 2nd 2016)

Major Intraday resistance- 15765 (200 H MA)

Nikkei225 has slightly recovered after making a low of 14990. It is currently trading around 15250.

The index is trading well above hourly Tenken-Sen and Kijun-Sen. So a slight jump till 15500/15750 is possible.

On the lower side immediate support is around 14770 (Feb 2016 low) and any break below targets 14250/13800/13300/12800.

The Nikkei225 is facing resistance around 15315 (50 HMA ) and any break above targets 15500/15765.

It is good to buy at dips around 15100 with SL around 14770 for the TP of 15490/15750n
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