Major Asian Indices Technicals

Monday, February 8, 2016 3:09 AM UTC

Hang Seng:

Hang Seng has broken minor resistance 19300 and jumped til 19395. It has closed around 19303 on Friday.
Short term trend is slightly bullish as long as support 18750 holds.
Any break above 19300 will take the index to next level around 19600/19800.
On the lower side minor support is around 19000 and any break below will drag the index till 18750/18500.

It is good to buy at dips around 19000 with SL around 18700 for the TP of 19300/19500.

Nikkei:

Nikkei has broken minor support 16600 and declined till 16480. It is currently trading around 16785.
Short term trend is slightly weak as long as resistance 17300 holds.The index major resistance is around 17300 and any break above 17300 will take the index till 17500/17800.
On the lower side minor support is around 16480 and break below targets 16300/16000.

It is sell on rallies around 17100 with SL around 17300 for the TP of 16500/16350.

ASX200:

ASX200 is facing strong resistance around 5000 and any break above confirms minor trend reversal . It is currently trading around 4970.
On the lower side minor support is around 4900(cloud bottom) and breaks below targets 4850/4800 level.
The major resistance is around 5000 and any break above 5000 will take the pair to next level 5075.

It is good to buy at dips around 4930 with SL around 4895 for the TP 5000/5075

Kospi :

Kospi is facing major resistance around 1930 and it is currently trading around 1917.
On the higher side any break above 1930 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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