Major Asian Indices technicals

Thursday, January 28, 2016 2:45 AM UTC

Hang Seng:

Hang Seng is consolidating between narrow range between 18776-19485 for the past two days. It is currently trading around 19138.
The index major resistance is around 19500 and any break above 19500 confirms minor trend reversal , a jump till 19650/20000 is possible .
Short term bearish invalidation only above 20000.
On the lower side minor support is around 18780 and any break below will drag the index till 18500/18000.

It is good to buy at dips around 18800 with SL around 18500 for the TP of 19480/19650.

Nikkei

Nikkei has recovered till 17400 and slightly declined from that level. It is currently trading around 17193.
The index is facing resistance around 17400 (20 day MA) and any break above targets 17800/18000.
On the lower side minor support is around 16800 and break below targets 16500/16000/15800.

It is good to buy at dips around 17000 with SL around 16500 for the TP of 17650/18000.

ASX200:

ASX200 is facing strong resistance around 5000 and any close above 5000 confirms major trend reversal.The index is struggling to close above 5000 for the past three trading session It is currently trading around 4979.
On the lower side minor support is around 4930 and breaks below targets 4900/4860 level.
Any break above 5000 will take the pair to new level 5050/5080/ minor resistance is around 4950.

It is good to buy at dips around 4950 with SL around 4900 for the TP 5000/5050

Kospi :

Kospi has broken minor resistance 1900 and is currently trading around 1897.
Short term trend is slightly bullish as long as support 1850 holds.
On the higher side minor resistance is around 1900 and break above targets 1920/1950 in short term.
The major support is around 1850 and below that level will take the index to next level 1835/1800.

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

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