Major Asian Indices Technical Analysis

Tuesday, December 29, 2015 3:05 AM UTC

Hang Seng:

Hang Seng has made a low of 21825 and slightly recovered from that level. It is currently trading around 21935.
On the lower side minor support is around 21700 and any break below will drag the index till down till 21500/21250 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 low of 18730 and started to slightly recover from that level. It is currently trading at 18860
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 has broken major resistance 5235 and this confirms short term bullishness , a jump till 5285/5300 is possible.
On the lower side minor support is around 5190 and break below targets 51580/5130 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 started to decline after making a high of 2009 The index is currently trading at 1964.
Short term trend is still bearish as long as resistance 2010 holds. On the higher side major resistance is around 2010 and break above targets 2026/2040 in short term.
The support is around 1950 and below that level will take the index to next level 1920/1900.

It is good to sell on rallies around 1985-90 with SL around 2010 for the TP of 1950/1920

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts