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19 Mar 2015
Nikkei retreats from fresh 15-yr highs
FXStreet (Mumbai) - The Japanese equities index jumped to fresh fifteen year highs at open following the overnight cues from Wall Street where stocks closed sharply higher in response to the US Federal Reserve's announcement - which traders viewed as dovish regarding the outlook for interest rates. However, the gains were quickly erased due to profit-taking from the market's recent gains.
The benchmark Nikkei 225 index -0.45% lower at 19455.86 levels, retreating from fresh fifteen year highs of 19557.17. The index gave back gains towards the close, despite a renewed weakness in yen, as traders resorted to lock-in gains after the recent strength.
The index trades with a negative market breadth, the advance-decline ratio being 85:130. Sharp Corp is the top gainer rallying 3.43%, Nitto Denko is up 3%. Among the top losers, Mitsumi Electric is down -3.31%. While Alps Electric is lower nearly -3%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19557.17. Meanwhile, support is seen at 19300 levels and from here to 19220 levels.
The benchmark Nikkei 225 index -0.45% lower at 19455.86 levels, retreating from fresh fifteen year highs of 19557.17. The index gave back gains towards the close, despite a renewed weakness in yen, as traders resorted to lock-in gains after the recent strength.
The index trades with a negative market breadth, the advance-decline ratio being 85:130. Sharp Corp is the top gainer rallying 3.43%, Nitto Denko is up 3%. Among the top losers, Mitsumi Electric is down -3.31%. While Alps Electric is lower nearly -3%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19557.17. Meanwhile, support is seen at 19300 levels and from here to 19220 levels.