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Nikkei 225 futures are currently trading at 23765-lower by 0.23% as compared to the previous closing. The contract, however, closed in the negative territory in the last trading session.
In the Cash Markets, the Nikkei 225 added 0.47% to close at 24,066.12 on Tuesday.
The Japanese benchmark index Nikkei 225 inched higher on Monday after reaching a 14-month high last week as progress on US-China trade war supported investor’s optimism.
On the economic front all industries activity index data for the November month released today came in at -4.3%. the index has fallen to -4.3% for 1.9% in the previous month.
Paper & pulp, Railway and Real Estate were the top-performing sectors in the Nikkei 225. The index is up by 2.3% for the month so far.
Ease in trade tensions between the U.S. and China is positive for the earnings of Japanese exporters.
There were 1184 gainers on the broad market index against 2405 decliners today while 221 remained unchanged.
Top gainers in the index include- Daiichi Sankyo Co. that surged 2.84%, Aeon Co. surged 2.77% while yahoo japan Corp added 2.76%.
The top percentage losers in the index include- Nippon Sheet Glass Co. (fell 6.82%), Mitsui Engineering & Shipbuilding declined 3.56% while JGC Corp. lost 3.21%.
Volatility index on Nikkei 225 remained unchanged at 13.52.
In the currency market USD/JPY was down by 0.05% to 109.38 while EUR/USD inched up to close at 121.22
On the technical front, the index is trading below 5-day moving average but above 20 and 50-day moving average. The stochastic indicates that market can move in upward direction which RSI indicates a sideways movement. The market is expected to trade in negative territory.
Overall Bias is negative and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.
TRADE SUGGETION- SELL@ 23765, STOPLOSS@ 23865, TARGET@ 23565