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Nikkei 225 futures are currently trading at 24005-lower by 0.37% as compared to the previous closing. The contract, however, closed in the positive 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 broad-market index hit its highest level since 4th October 2018 earlier in the session.
The Japanese benchmark advanced today tracking US indices rally to a record closing on renewed optimism over Sino-U.S. interim trade deal.
Industrials and healthcare were the top-performing sectors in the Nikkei 225. The broad-market index has rallied more than 19% in 2019.
The U.S. National Economic Council Director said on Monday that the phase one deal was absolutely completed and Washington exports to Beijing would double in exchange for a reduction in U.S. tariffs.
Ease in trade tensions between the U.S. and China is positive for the earnings of Japanese exporters.
There were 137 gainers on the broad market index against 82 decliners today.
Top gainers in the index include- Tosoh Corp (surged 5.2%), M3 Inc. (rose 4.7%) and Inpex Corp (advanced 4.0%).
The top percentage losers in the index include- Dentsu Inc. (plunged 6.3%), Mitsui E&S Holdings Co Ltd (fell 3.0%) and Bandai Namco Holdings Inc. (declined 2.4%).
The broader Topix added 0.59% to close at 1,747.20 on Tuesday. The index also touched its highest level since 10th October 2018 during the session.
Defensive stocks closed in positive territory today. KDDI Corp and Nippon Telegraph and Telephone Corp gained 0.87% and 0.29% respectively on Tuesday.
On the technical front, the RSI is currently at 66.45% and suggests that the market can continue trading sideways. The current price is above the MA5. The %K has crossed the %D from below to the upside at around 70% and suggests that the market can move in the upward direction.
Overall Bias is Positive and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.
Trade Suggestion- Limit Buy At 23980 Take Profit At 24120 Stop Loss At 23910