Major Asian Indices Technicals

Thursday, January 7, 2016 3:16 AM UTC

Hang Seng:

Hang Seng has broken major support 23000 and this confirms major weakness a decline till 20090/19800/19425 is possible . It is currently trading around 20270
The index resistance is at 20650 and any indicative break above that level will take the pair to next level 20870/21000 level.Short term bearish invalidation only above 21400.
On the lower side minor support is around 20300 and any break below will drag the index till down till 20000/19400.

It is good to sell on rallies around 20650-700 with SL around 20880 for the TP of 20270/20000/19425

Nikkei

Nikkei has made a low of 17816 at the time of writing and is currently trading at 17840.
The index is facing support around 17800 and any break below targets 17650/17300.
On the higher side major resistance is around 18300 and break above targets 18650/18800. Minor resistance is around 17935/18140.

It is good to sell on rallies around 18050-18100 with SL around 18300 for the TP of 17650/17300.

ASX200:

ASX200 has broken major support 5090 and declined till 5026 at the time of writing. It is currently trading around 5025.
Short term trend is still weak as long as resistance 5130 holds.
On the lower side minor support is around 5000 and break below targets 4958/4860 level.
Any break above 5150 will take the pair to new level 5200/5230.

It is good to sell rallies around 5080-85 with SL around 5130 for the TP 5005/4960

Kospi :

Kospi has broken major support 1920 and a declined till 1901 at the time of writing . The index is currently trading at 1935
Short term trend is still bearish as long as resistance 1980 holds. On the higher side minor resistance is around 1930 and break above targets 1958/1980 in short term.
The major support is around 1900 and below that level will take the index to next level 1868.

It is good to sell on rallies around 1915-20 with SL around 1940 for the TP of 1900/1868

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