Major Asian Indices Technicals

Tuesday, February 2, 2016 2:47 AM UTC

Hang Seng:

Hang Seng has once again broken major resistance 19500 and jumped till 19607 at the time of writing. It is currently trading around 19635.
Short term trend is still bullish as long as support 19200 holds.
The index major resistance is around 19800 and any break above 19800 targets 20000/20300.
Short term bullish invalidation only below 18500.
On the lower side minor support is around 19350 and any break below will drag the index till 19200/19000.

It is good to buy at dips around 19350 with SL around 19200 for the TP of 19650/19800.

Nikkei

Nikkei is facing strong resistance around 18000 (200 day 4HMA) and break above confirms further bullishness , a jump till 18400 is possible. It is currently trading around 17835.
Short term trend is still bullish as long as support 17280 holds.
On the lower side minor support is around 17500 and break below targets 17280/17000.

It is good to buy at dips around 17500 with SL around 17280 for the TP of 18000.

ASX200:

ASX200 has slightly retreated after making a high of 5074. It is currently trading around 5023.
On the lower side minor support is around 5000 and breaks below targets 4950/4930 level.
The major resistance is around 5080 and any break above 5080 will take the pair to next level 5135.

It is good to buy at dips around 5000 with SL around 4950 for the TP 5080/5135

Kospi :

Kospi has broken minor resistance 1900 and is currently trading around 1917.
Short term trend is slightly bullish as long as support 1850 holds.
On the higher side minor resistance is around 1930 and break above targets 1950/1975 in short term.
The major support is around 1880 and below that level will take the index to next level 1850/1830.

It is good to buy at dips around 1880 with SL around 1850 for the TP of 1920/1945

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