Japan’s Nikkei share average closed at a 33-year high on Tuesday, rising 1.16% to finish at 33763.18, its highest since March 1990. Chip-related stocks led gains in the Nikkei after tracking upbeat performances by U.S. chipmakers Nvidia and Advanced Micro Devices on the Wall Street. Energy shares were among the worst performers, after oil prices fell about 4% on Monday.
Analysts believe that Nifty may be experiencing a short-term top reversal pattern. Support is seen around 19850 levels, and resistance is expected at 20100 levels. Traders are advised to use any consolidation as a buying opportunity.
