Major Asian Indices Technicals

Wednesday, February 3, 2016 3:11 AM UTC

Hang Seng:

Hang Seng has broken major support 19200 and declined till 18800 at the time of writing. It is currently trading around 18840.
Short term trend is slightly weak as long as resistance 19300 holds.
The index major resistance is around 19300 and any break above 19300 targets 19600/19800.
On the lower side minor support is around 18500 and any break below will drag the index till 18000.

It is good to sell on rallies around 19000 with SL around 19300 for the TP of 18500/18000.

Nikkei

Nikkei has declined till 17068 at the time of writing after making a high of 17898. It is currently trading around 17200.
Short term trend is slightly weak as long as resistance 17500 holds.Any break above 17500 will take the index till 17800/17900.
On the lower side minor support is around 17000 and break below targets 16700/16500.

It is good to sell on rallies around 17300 with SL around 17500 for the TP of 17000/16700.

ASX200:

ASX200 has broken major support 4950 and declined till 4882. It is currently trading around 4891.
On the lower side minor support is around 4880(cloud bottom) and breaks below targets 4850/4800 level.
The minor resistance is around 4930 and any break above 4930 will take the pair to next level 4975/5000/5075.

It is good to sell on rallies around 4930 with SL around 4975 for the TP 4880/4850

Kospi :

Kospi has retreated after making a high of 1926 and is currently trading around 1885.
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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