Nikkei weekly technical analysis for 7 to 11 march 2016
Nikkei 225 index this week closed with gain. This was third gaining week for this index. In these 3 weeks period Nikkei recovered from lows of 15200 to high of 17100+. Almost 2000 points gains in very short terms. Weekly chart price trend is down but momentum is strong bullish on short covering as well as value buying. Weekly chart indicators are at breakout stage. Nikkei major support is at 16250 and above it, it remain buy and accumulate. My upside targets are 17650 and then 19300 for month of March 2016.