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5 Jan 2015
Nikkei steadies, faces stiff resistance at 10-DMA
FXStreet (Mumbai) - The Japanese equities index re-opened with a negative gap of 75 points after yea-end holiday, swinging between gains and losses, with the weak cues from Wall Street, lower crude oil prices and Greek political uncertainties weighing on sentiment.
The benchmark Nikkei 225 index trades marginally higher by 0.17% or 29 points at 17480.44, compared to previous session’s close of 17450.77. The index traded steady amid mixed global cues and buying interest slowly picking-up in Asia after an extended holiday season.
The index breadth is positive with an advance decline ratio of 126:92. Among the major gainers, Nisshin Seifun Group is up 6.15%; Tokuyama Corp, Fuji Electric Co Ltd and Japan Steel Works Ltd are each gaining over 3%. Among the top losers, Nikon is declining 2.3% and Japan Tobacco Inc is trading lower by 2.16%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17895.50 (Dec 9 High) above which gains could be extended to 18030.50 (Dec 8 High) levels. Meanwhile, support is seen at 17696.36 (Dec 3 Low) and from here to 17500 levels.
The benchmark Nikkei 225 index trades marginally higher by 0.17% or 29 points at 17480.44, compared to previous session’s close of 17450.77. The index traded steady amid mixed global cues and buying interest slowly picking-up in Asia after an extended holiday season.
The index breadth is positive with an advance decline ratio of 126:92. Among the major gainers, Nisshin Seifun Group is up 6.15%; Tokuyama Corp, Fuji Electric Co Ltd and Japan Steel Works Ltd are each gaining over 3%. Among the top losers, Nikon is declining 2.3% and Japan Tobacco Inc is trading lower by 2.16%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17895.50 (Dec 9 High) above which gains could be extended to 18030.50 (Dec 8 High) levels. Meanwhile, support is seen at 17696.36 (Dec 3 Low) and from here to 17500 levels.