Major Asian Indices Techncials
Asian Indices
Nikkei
Nikkei hits three week low on account of global equity sell off and weaker oil prices. It has made a low of 192333 and is currently trading around 19300. On the lower side the index major support is around 19200 and any break below targets 19020/18630 level.
The index is facing minor resistance around 19550 and break above will take the index till 19800/2000. Overall bullishess can be seen if it closes above 20000.
It is good to sell on rallies around 19570-600 with SL around 19800 for the TP of 19210/19020.
Hangseng
Hangseng index has broken 21800 ( Nov 16th low) and declined till 21700 level It is currently trading around 21798.The break of 21700 confirm,s minor trend reversal a decline till 21450/21000 is possible .
On the higher side minor resistance is around 22050 and break above targets 22200/22300. The short term major resistance is around 22300 level.
It is good to sell on rallies around 22050 with SL around 22300 for the TP of 21700/21450
Nikkei
Nikkei hits three week low on account of global equity sell off and weaker oil prices. It has made a low of 192333 and is currently trading around 19300. On the lower side the index major support is around 19200 and any break below targets 19020/18630 level.
The index is facing minor resistance around 19550 and break above will take the index till 19800/2000. Overall bullishess can be seen if it closes above 20000.
It is good to sell on rallies around 19570-600 with SL around 19800 for the TP of 19210/19020.
Hangseng
Hangseng index has broken 21800 ( Nov 16th low) and declined till 21700 level It is currently trading around 21798.The break of 21700 confirm,s minor trend reversal a decline till 21450/21000 is possible .
On the higher side minor resistance is around 22050 and break above targets 22200/22300. The short term major resistance is around 22300 level.
It is good to sell on rallies around 22050 with SL around 22300 for the TP of 21700/21450