Major Asian Indices Technical Analysis

Wednesday, December 30, 2015 3:03 AM UTC

Hang Seng:

Hang Seng has jumped till 22045 at the time of writing in morning and started to decline from that level. It is currently trading around 21960.
The index resistance is at 22380 and any indicative break above that level will take the pair to next level 22580/22800 level.
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.

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 19145 today and started to decline from that level. It is currently trading at 19022.
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 5320 and this confirms slight bullishness a jump till 5375/5410 is possible . It is currently trading around 5320
On the lower side minor support is around 5265 and break below targets 5230/5190 level.
Major weakness can be seen only below 5190 level.

It is good to buy at dips around 5240-50 with SL around 5190 for the TP of 5335/5375

Kospi :

Kospi has recovered slightly after making a low of 1946. The index is currently trading at 1966
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 minor resistance is around 1980.
The major 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

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