Major Asian Indices Technical's

Wednesday, January 6, 2016 5:21 AM UTC

Hang Seng:

Hang Seng has broken major support 21100 and this this confirms minor weakness a decline till 20650/20380 is possible . It is currently trading around 21261
The index resistance is at 21400 and any indicative break above that level will take the pair to next level 21635/21850/22000 level.Short term bearish invalidation only above 22300.
On the lower side minor support is around 20900 and any break below will drag the index till down till 20600/20380level.

It is good to sell on rallies around 21350-400 with SL around 21635 for the TP of 20900/20650

Nikkei

Nikkei has broken major support 18080 and a dip till 17650 is possible is currently trading at 18125.
the index is facing support around 17900 and any break below targets 17650/17300.
On the higher side major resistance is around 18650 and break above targets 18800/19170 break above 19170 (12 M MA) above targets 19300/19460/19690. Minor resistance is around 18300/18650.

It is good to sell on rallies around 18250-300 with SL around 18650 for the TP of 17900/17650.

ASX200:

ASX200 has broken major support 5150 and declined till 5110. It is currently trading around 5125
Short term trend is still weak as long as resistance 5230 holds.
On the lower side minor support is around 5100 and break below targets 5050/5130 level.
Any break above 5230 will take the pair to new level 5285/5300.

It is good to sell rallies around 5160-70 with SL around 5230 for the TP 5100/5050.

Kospi :

Kospi has broken major support 1950 and a decline till 1900 is possible . The index is currently trading at 1935
Short term trend is still bearish as long as resistance 2010 holds. On the higher side minor resistance is around 1980 and break above targets 2010/2026/2040 in short term.
The major support is around 1920 and below that level will take the index to next level 1900/1868.

It is good to sell on rallies around 1935-40 with SL around 1960 for the TP of 1900

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