Japan stocks lower at close of trade; Nikkei 225 down 1.16%

Japan stocks were lower after the close on Monday, as losses in the Transport, Fishery and Marine Transport sectors led shares lower.

At the close in Tokyo, the Nikkei 225 lost 1.16%.

The best performers of the session on the Nikkei 225 were Kawasaki Kisen Kaisha, Ltd. (TYO:9107), which rose 6.61% or 145.00 points to trade at 2,340.00 at the close. Meanwhile, Isetan Mitsukoshi Holdings Ltd. (TYO:3099) added 4.48% or 58.00 points to end at 1,354.00 and Mitsui O.S.K. Lines, Ltd. (TYO:9104) was up 3.76% or 107.00 points to 2,954.00 in late trade.

The worst performers of the session were Daiichi Sankyo Co., Ltd. (TYO:4568), which fell 3.29% or 145.00 points to trade at 4,257.00 at the close. Mitsui & Co., Ltd. (TYO:8031) declined 3.26% or 108.00 points to end at 3,200.00 and Itochu Corp. (TYO:8001) was down 3.20% or 125.00 points to 3,779.00.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2302 to 1214 and 259 ended unchanged.

Shares in Isetan Mitsukoshi Holdings Ltd. (TYO:3099) rose to 3-years highs; gaining 4.48% or 58.00 to 1,354.00.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 7.03% to 24.72.

NIKKEI 225 Technical Analysis: Daily Chart

In the daily charts, NIKKEI 225 is trading in an up channel. NIKKEI 225 is currently trading above 20 days SMA & below 50 and 100 days SMA.

RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 26529.75 & the resistance level is at 27167.00.

NIKKEI 225 INDEX will trade in an up channel until there is trend reversal.   

How to Trade NIKKEI 225 INDEX this Week:

NIKKEI 225 INDEX will follow the uptrend until there is trend reversal. So, remain bullish on NIKKEI 225 INDEX.

TRADE SUGGESTION- BUY AT 26840.00, TAKE PROFIT AT 27167.00 AND STOP LOSS AT 26529.75