Major Asian Indices technicals

Wednesday, January 27, 2016 2:59 AM UTC

Hang Seng:

Hang Seng has broken minor resistance 19000 and jumped till 19250 at the time of writing.It is currently trading around 19093.
Short term trend is still weak as as resistance 19500 holds.
The index minor resistance is at 19300 and any indicative break above that level will take the pair to next level 19500/19700/20000/ level.
Short term bearish invalidation only above 20000.
On the lower side minor support is around 18500 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 made a high of 17245 today morning and slighty declined from that level.It is currently trading around 17140.
The index is facing support around 16800 and any break below targets 16500/15000.
On the higher side minor resistance is around 17300 and break above targets 17500/17880.

It is good to sell on rallies around 17300 with SL around 17505 for the TP of 16500/16000.

ASX200:

ASX200 is facing pschycological resistance around 5000 and bullishness can be seen only above that level. It is currently trading around 4970.
Short term trend is still weak as long as index struggles to close above 5000 holds.
On the lower side minor support is around 4960 and breaks below targets 4920/4900 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 4970 with SL around 5010 for the TP 4920/4900

Kospi :

Kospi is facing strong resistance around 1900 and nay break above confirms minor trend reversal. The index has made a high of 1902 and declined from that level. in morning and is currently trading at 1872.
Short term trend is still bearish as long as resistance 1920 holds.
On the higher side minor resistance is around 1900 and break above targets 1920/1960 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 1900 with SL around 1920 for the TP of 1850/1831.

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