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World Stock market Watch :- Japan Nikkei Index support & resistance
Patel
(1/5/2009 12:32:12 AM)
World Stock market Japan Nikkei forecast on the base of technical analysis, news and global events analysis considering that you can plan your Stock Market day trading, swing trading or investment strategy. Last week Japan Nikkei given a upside breakout and Rate of change (ROC) given a buy signal. Only the negative is Stockhastic in over bought zone. Short term Stock market looks turn positive and its ready to hit 9521 resistance. Any down move need to hold 8440 support.
Last week Japan Nikkei given a double top upside breakout and close above 50 Day moving average and started to curving up side and also hold a up channel trend line and again Rate of change (ROC) given a buy signal that shows some positive development in chart only the negative is Stockhastic in over bought zone. For this week 8440 is a important support, any failure of this support Japan Nikkei can go up to 7924, any down move need to hold 7924 support you can enter long here with 50 point stop loss and for upside 9380 is a important resistance If Japan Nikkei cross above 9056 you can enter long with 20 point stop loss and target 9380/9521. Above 9380 our next strong resistance are 9521 above this 11615 is a strong resistance. At this stage for any position keep tight stop loss, this is a key factor to do successful day trading, swing trading, Stock trading, Stock investing in Stock market.
Day trader need to heap eye on strong Support | resistance because once it clear out Stock market goes up to next strong support | resistance. So for Stock trading you can go long or short after market clear out strong support | resistance or you can do reverse means buy at strong support and sell at strong resistance.
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