TECHNICAL ANALYSIS OF NIKKEI 225 INDEX & NEWS – 26 SEPTEMBER 2022
26 Sep 2022
Japan stocks lower at close of trade; Nikkei 225 down 2.66%
Japan stocks were lower after the close on Monday, as losses in the Real Estate, Banking and Retail sectors led shares lower.
At the close in Tokyo, the Nikkei 225 declined 2.66% to hit a new 1-month low.
The best performers of the session on the Nikkei 225 were KDDI Corp. (TYO:9433), which rose 0.58% or 25.00 points to trade at 4,305.00 at the close. Meanwhile, Nippon Telegraph & Telephone Corp (TYO:9432) added 0.54% or 21.00 points to end at 3,888.00 and Nippon Paper Industries Co., Ltd. (TYO:3863) was up 0.46% or 4.00 points to 883.00 in late trade.
The worst performers of the session were Inpex Corp. (TYO:1605), which fell 9.87% or 149.00 points to trade at 1,360.00 at the close. Idemitsu Kosan Co Ltd (TYO:5019) declined 7.63% or 265.00 points to end at 3,210.00 and Fujikura Ltd. (TYO:5803) was down 7.36% or 70.00 points to 881.00.
Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 3235 to 425 and 152 ended unchanged.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 4.25% to 21.61.
NIKKEI 225 Technical Analysis: Daily Chart
In the daily charts, NIKKEI 225 is trading in down channel. NIKKEI 225 is currently trading below all SMA.
RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 25967.00 & the resistance level is at 26487.00.
NIKKEI 225 INDEX will trade in down channel until there is trend reversal.
How to Trade NIKKEI 225 INDEX this Week:
NIKKEI 225 INDEX will follow the downtrend until their trend reversal. So, remain bearish on NIKKEI 225 INDEX.