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Nikkei falls on profit booking

FXStreet (Mumbai) - The Japanese equity markets ended lower today on a bout of profit booking after having gained more than 8% since last Friday.

The Nikkei ended 0.86% lower at 16,792.48 levels, compared to the previous session’s close of 16,937.32 levels. The index breadth was negative with an advance decline ratio of 38:187. Among the stocks, Toyota ended 0.06% higher after surprising investors with an earnings upgrade. Top gainers for the day were Nisshinbo Holdings, Nippon Suisan Kaish, Teijin Ltd. Meanwhile, the top losers included Takara Holdings Inc., Heiwa Real Estate C., Nisshin Steel Holdings Co.

Elsewhere, the broader index Topix fell 1.12% to 1356.35 levels.

Nikkei Technical Levels

The index has an immediate support at 16,729, under which the prices can fall to 16,533.91 levels. Meanwhile, a strong resistance is seen at 17,194 levels.

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