Major Asian Indices Technicals

Nikkei

• Nikkei  has once again made a high of 16328 and slightly retreats from that level. It is currently trading around 16223. Short term trend is bullish as long as support 15500 (Kijun-Sen) holds.
   
• The index is facing strong resistance around 16400 and any break above 16400 will take the pair to next level 16700/17000. On the lower side  minor support is around 15500 and break below targets around 15200/14800 (200 day W MA) /14350/14000.
   
• Overall bearish invalidation only if it closes above 16775 (7 W EMA).
  
  It is good to buy at dips around 15900 with SL around 15600 for the TP of 16700.

ASX200:

• ASX200 breaks major resistance 4930 and jumped till 4993. It is currently trading around 4987.
   
• On the lower side minor support is around 4960 and breaks below targets 4930/4850 level.
   
• The index major resistance is around 5000 and any break above targets 5050/5075.

It is good to buy on dips around 4960 with SL around 4925 for the TP 5000/5075 

Kospi :

• Kospi has broken major resistance 1900 and jumped till 1910 at the time of writing. It is currently trading around 1900.
   
• Short term trend is slightly bullish as long as support 1850 holds. 
   
• On the higher side any break above 1900 will take the pair till  1930/1950 in short term.
   
• The major support is around 1850 and below that level will take the index to next level 1830/1800.

It is good to buy at dips  around 1870 with SL around 1850 for the TP of 1900/1930