10 Mar 2015
Nikkei swinging both sides on mixed cues
FXStreet (Mumbai) - The Japanese equities index opened on a firmer note with a positive gap of 100 points tracking the positive lead overnight from Wall Street as well as a weaker yen. However, the gains were erased and the index slumped following losses in Chinese stock markets after consumer and producer price data missed expectations.
The benchmark Nikkei 225 index fell by -0.77% at 18647 levels, retreating from daily highs of 18924.38. The index extended losses also as the prospect of higher U.S. interest rates dimmed the outlook for equities.
The index trades with a negative market breadth, the advance-decline ratio being 48:171. Ebara Corp is the top gainer rallying 4.65%, Minebea Co is up 3.69%. Among the top losers, Nippon Paper is down -4.21%. While, Unitika Ltd is lower by more than 3.5%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18800. Meanwhile, support is seen at 18587 levels and from here to 18500 levels.
The benchmark Nikkei 225 index fell by -0.77% at 18647 levels, retreating from daily highs of 18924.38. The index extended losses also as the prospect of higher U.S. interest rates dimmed the outlook for equities.
The index trades with a negative market breadth, the advance-decline ratio being 48:171. Ebara Corp is the top gainer rallying 4.65%, Minebea Co is up 3.69%. Among the top losers, Nippon Paper is down -4.21%. While, Unitika Ltd is lower by more than 3.5%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18800. Meanwhile, support is seen at 18587 levels and from here to 18500 levels.