Nikkei trades higher after fed rate hike, good to buy at dips
Nikkei trades higher after Fed hikes interest rates as expected by 25 bpbs and said that further rate hike will be gradual, The fed chairman reiterated that policy will remain accommodative and hike is data dependent.
The index has broken major resistance 19300 and reached till 19500 . The major resistance is around 19525 (200 day MA) and break above confirms further bullishness , a jump till 19800/20000 is possible .
But the index should close above 20000 for overall trend reversal. Close above 20000 will take the index to next target around 20300/20500
On the lower side support is around 19200 and any break below targets 19000/18800/18500.
It is good to buy at dips around 19250 with SL around 19000 for the TP of 19525/19800
The index has broken major resistance 19300 and reached till 19500 . The major resistance is around 19525 (200 day MA) and break above confirms further bullishness , a jump till 19800/20000 is possible .
But the index should close above 20000 for overall trend reversal. Close above 20000 will take the index to next target around 20300/20500
On the lower side support is around 19200 and any break below targets 19000/18800/18500.
It is good to buy at dips around 19250 with SL around 19000 for the TP of 19525/19800