Major Asian Indices Technicals

Thursday, January 21, 2016 3:19 AM UTC

Hang Seng:

Hang Seng has recovered after making a low of 18756. It is currently trading around 19170. Short term trend is still weak as as resistance 19500 holds.
The index resistance is at 19500 and any indicative break above that level will take the pair to next level 19700/20000/ level.
Short term bearish invalidation only above 20300.
On the lower side minor support is around 18650 and any break below will drag the index till 18000.

It is good to sell on rallies around 19300-350 with SL around 19700 for the TP of 19000/18650

Nikkei

Nikkei has recovered after making a low of 15935. It is currently trading around 16745.
The index is facing support around 16000 and any break below targets 15650/15000.
On the higher side minor resistance is around 17000 and break above targets 17300/17500/17880.

It is good to sell on rallies around 17000 with SL around 17300 for the TP of 16500/16000.

ASX200:

ASX200 has made a low of 4766 yesterday and started to recover from that level. It is trading around 4908.
Short term trend is still weak as long as resistance 5000 holds.
On the lower side minor support is around 4840 and breaks below targets 4800/4750 level.
Any break above 5000 will take the pair to new level 5050/5080/ minor resistance is around 4950.

It is good to sell rallies around 4950 with SL around 5000 for the TP 4850/4755

Kospi :

Kospi has recovered after making a low of 1830. The index is currently trading at 1856.
Short term trend is still bearish as long as resistance 1885 holds.
On the higher side major resistance is around 1885 and break above targets 1900/1920 in short term.
The major support is around 1850 and below that level will take the index to next level 1835/1800.

It is good to sell on rallies around 1885 with SL around 1905 for the TP of 1850/1831.

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