Major Asian Indices Technical Analysis

Nikkei

• Nikkei has made a low of 18585 at the time of writing and slightly recovered from that level . It is currently trading around index major support is around 17585 (55 W EMA) and any further weakness can be seen only below that level.Short term trend is slightly bullish as long as support 18500 holds.
   
• The index is facing resistance around 18840 and any break above will take the index till 19090/19300. Overall bullishness can be seen if it closes above 19500.
   
• On the lower side major support 18500 and break below targets 18280/18000 in short term.

It is good to buy at dips around 18550-600 with SL around 18400 for the TP of 19090/19300

Hangseng

• Hangseng index has declined till 20979 and slightly recovered from that level.It is currently trading around 21101 and  trend is still weak as long as resistance 21700 holds.
   
• On the higher side minor resistance is around 21345 and break above targets 21700/22000 The short term major resistance is around 22400 level.
   
• The index minor support is around 20800 and break below will drag the index down till 20500/20300

It is good to sell on rallies around 21300-350 with SL around 21700 for the TP of 20800/20500