Major Asian Indices Technical Analysis

Tuesday, January 5, 2016 3:51 AM UTC

Hang Seng:

Hang Seng has made a low of 21100 and slightly recovered from that level. It is currently trading around 21261
The index resistance is at 21400 and any indicative break above that level will take the pair to next level 21635/21850/22000 level.Short term bearish invalidation only above 22300.
On the lower side minor support is around 21100 and any break below will drag the index till down till 20900/20600 level.

It is good to sell on rallies around 21350-400 with SL around 21635 for the TP of 20900/20650

Nikkei

Nikkei has recovered after making a low of 18088 and recovered from that level . It is currently trading at 18526.
The index has taken support near 18090 (61.8% retracement of 16890 and 20026) and any further weakness only below that level.
Any break below 18090 will take the pair to next level 17900/17650.
On the higher side major resistance is around 18650 and break above targets 18800/19170 break above 19170 (12 M MA) above targets 19300/19460/19690. Minor resistance is around 18800/19000.

It is good to buy at dips around 18200-250 with SL around 18090 for the TP of 18650/1800

ASX200:

ASX200 has made a temporary high of 5358 and declining form that level. It is currently trading around 5203.
Short term trend is still weak as long as resistance 5360 holds.
On the lower side minor support is around 5190 and break below targets 5150/5130 level.
Major weakness can be seen only below 5190 level.

It is good to sell on rallies around 5245-50 with SL around 5300 for the TP of 5151/5135

Kospi :

Kospi has broken major support 1950 and a decline till 1900 is possible . The index is currently trading at 1935
Short term trend is still bearish as long as resistance 2010 holds. On the higher side minor resistance is around 1980 and break above targets 2010/2026/2040 in short term.
The major support is around 1920 and below that level will take the index to next level 1900/1868.

It is good to sell on rallies around 1955-60 with SL around 1980 for the TP of 1920/1900

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