Nikkei dead flat amid lack of fresh triggers

FXStreet (Mumbai) - The Japanese equities index opened on a positive note and reached fresh 15-year highs in early trades. However, Japanese stocks erased gains and fell in red as traders resorted to profit-taking after seven straight days of gains.

Currently, the benchmark Nikkei 225 index trades unchanged at 20,416.25, recovering from session lows at 20,378.77. The Japanese stocks now trades muted, recovering losses on profit-taking, despite broad yen weakness.

The index trades with a negative market breadth with the advance decline ratio of 98:117. Tokyo electric power is the top gainer, up nearly 1%, followed by Sharp Corp up 0.58%. The top loser so far is Chiyoda Corp, down -1.29%, followed by Toho Zinc which loses -0.23%.

Nikkei Technical Levels

The index has an immediate resistance stands at 20500. Meanwhile, support is seen at 20200 levels and from here to 20k levels.