Major Asian Indices Technical Analysis

Hang Seng:

• Hangseng has made a high of  22264 (200 day 4 HMA) and slightly retreat from that level. It is currently trading around 22025.
   
• On the lower side minor support is around 21900 and any break below will drag the index till down till 21700/21500 level.
   
• Short term bullish invalidation only below 20900 level. 
   
• The index resistance is at 22380 and any indicative break above that level will take the pair to next level 22580/22800 level.

It is good to buy at dips around 21850-900 with SL around 21700 for the TP of 22250/22580

Nikkei

• Nikkei has made a high of 19118 and started to decline till 18730 from that level. It is currently trading at 18800
   
• Minor short term resistance is around 19170 (12 M MA) and any close above targets 19300/19460/19690.
   
• On the lower side major support is around 18700 and break below targets 18500/18180.
  
  It is good to buy at dips around 18700 with SL around 18500 for the TP of 19165/19300

ASX200:

• ASX200 forms triple top around 5231 and declined from that level. It has closed around 5208.
   
• The index resistance is around 5235 and any break above targets 5285/5300 level.
   
• On the lower side minor support is around 5158 and break below targets 5130/5100 level.
   
• Minor weakness can be seen only below 5130 level.

It is good to buy at dips around 5180-90 with SL around 5130 for the TP of 5285/5300

Kospi :

• Kospi has slightly declined after making a high of 2009  The index is currently trading at 1990.
   
• Short term trend is still bullish as long as support 1950 holds. On the higher side major resistance is around 2026 and break above targets 2040/2065 in short term.
   
• The support is around 1970 and below that level will take the index to next level 1950/1940.

It is good to buy at dips around 1970 with SL around 1950 for the TP of 2025/2040