Major Asian Indices Technicials

Monday, February 1, 2016 3:34 AM UTC

Hang Seng:

Hang Seng has broken major resistance 19500 and jumped till 19740. It is currently trading around 19635. Short term trend is still bullish as long as support 19200 holds.
The index major resistance is around 19800 and any break above 19800 targets 20000/20300.
Short term bullish invalidation only below 18500.
On the lower side minor support is around 19350 and any break below will drag the index till 19200/19000.

It is good to buy at dips around 19350 with SL around 19200 for the TP of 19650/19800.

Nikkei

Nikkei has broken major resistance 17400 and jumped till 17876 at the time of writing. It is currently trading around 17860.
The index is facing resistance around 18000 (200 day 4HMA) and any break above targets 18165/18400.
On the lower side minor support is around 16800 and break below targets 16500/16000/15800.

It is good to buy at dips around 17000 with SL around 16500 for the TP of 17650/18000.

ASX200:

ASX200 has broken major resistance around 5000 and jumped till is currently trading around 5055.
On the lower side minor support is around 4930 and breaks below targets 4900/4860 level.
The major resistance is around 5080 and any break above 5080 will take the pair to next level 5135.

It is good to buy at dips around 5000 with SL around 4950 for the TP 5080/5135

Kospi :

Kospi has broken minor resistance 1900 and is currently trading around 1917.
Short term trend is slightly bullish as long as support 1850 holds.
On the higher side minor resistance is around 1930 and break above targets 1950/1975 in short term.
The major support is around 1880 and below that level will take the index to next level 1850/1830.

It is good to buy at dips around 1880 with SL around 1850 for the TP of 1920/1945

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