Nikkei to stem dip?NIK225 - 24h expiry -
Selling pressure from 28805 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 28330 level.
We look to Buy at 28331 (stop at 28175)
Our profit targets will be 28725 and 28785
Resistance: 29295 / 29710 / 30300
Support: 28505 / 27880 / 27395
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