Major Asian Indices Technicals

Monday, January 11, 2016 2:11 AM UTC

Hang Seng:

Hang Seng has broken major support 20000 and declined till is currently trading around term trend is weak as long as resistance 20650 holds.
The index resistance is at 20650 and any indicative break above that level will take the pair to next level 20870/21000 level. Short term bearish invalidation only above 21400.
On the lower side minor support is around 20300 and any break below will drag the index till down till 20000/19400.

It is good to sell on rallies around 20300 with SL around 20650 for the TP of 20270/20000/19425

Nikkei

Nikkei has broken major support 17476 and declined till 17237. It has closed around 17279.
The index is facing support around 17000 and any break below targets 16890/16500.
On the higher side minor resistance is around 17600 and break above targets 18000/18200.

It is good to sell on rallies around 17600 with SL around 18000 for the TP of 17000/16500.

ASX200:

ASX200 has broken major support 4920 and declined till 4890 at the time of writing. It has closed around 4890.
Short term trend is still weak as long as resistance 5050 holds.
On the lower side minor support is around 4850 and breaks below targets 4800/4750 level.
Any break above 5050 will take the pair to new level 5080/5130.

It is good to sell rallies around 4970-80 with SL around 5050 for the TP 4900/4860

Kospi :

Kospi has recovered after making a low of 1883 . The index is currently trading at 1900.
Short term trend is still bearish as long as resistance 1940 holds. On the higher side minor resistance is around 1920 and break above targets 1940/1960 in short term.
The major support is around 1880 and below that level will take the index to next level 1868/1850.

It is good to sell on rallies around 1920 with SL around 1940 for the TP of 1868/1850.

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