Major Asian Indices Technical Analysis

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