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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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