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Major Asian Indices Techncials

Nikkei

  • Nikkei has broken major support 19200 and declined till 18863. It is currently trading around 19060 level.Intra day trend is still weak as long as resistance 19200 holds

  • Any break above 19200  will take the index till 19300/19680. Overall bullishness can be seen if it closes above 20000.

  • On the lower side major support 18800 and break below targets 18630/18500 in short term.

It is good to sell on rallies around 19250-300 with SL around 19500 for the TP of 19000/18800

Hangseng

  • Hangseng index has broken  21700 ( Oct 6th  low) and declined till 21635 level It is currently trading around trend is still weak a decline till 21450/21000 is possible .

  • On the higher side minor resistance is around 22000 and break above targets 22250/22350/22500. The short term major resistance is around 22600 level.

It is good to sell on rallies around 22000-22050 with SL around 22250 for the TP of 21700/21450

 

 

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