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Long

Nikkei225 faces major resistance around 18500,good to buy at dip

INDEX:NKY   Nikkei 225 Index
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Potential Reversal Zone (PRZ)- 18500

Any break above 18500 will take the index to next target at 18750/19150. Any close above 19200 confirms further bullishness and above this level it can reach till 19400.

On the downside major trend line support is around 17900 ( trend line joining 16900 and 17750) and break below will drag the index till 17380/17190/16900.

It is good to buy at dips around 18150-200 with SL around 17890 for the TP of 18450/18750.
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