Major Asian Indices Technical Analysis

Nikkei

• Nikkei has recovered  till 18986 at the time of writing after making a low of 18536 . It is currently trading around 18983. 
   
• The index is facing major support is around 18500 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 19000 and any break above will take the index till 19200/19300. 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 18700 with SL around 18500 for the TP of 19090/19300

Hang Seng

• Hangseng index has formed temporary bottom around 20979 and  recovered till 21700 from that level. It is currently trading around 21700 
   
• The index has broken 21700 (support turned into resistance) and this confirms minor trend reversal a jump till 22000/22200
   
• The index minor support is around 21480 and break below will drag the index down till 21340/21200

It is good to buy at dips around 21400-450 with SL around 21200 for the TP of 21700/22000