Asx 200 weekly-hit 5850 bearish target now consolidating
Nikkei 225 weekly-strong bullish run hit 19600 and 19975 target zones
Nikkei this week closed at 19883 with gain. This was forth gaining week for Nikkei futures and in these 4 weeks Nikkei rallied from 18200 low to almost 20k. On daily chart, Nikkei is in strong bullish trend and continue buying achieved its swing targets of 19600 and 19975. On chart, Nikkei supports are now at 19650 and then 19400 and these are fresh buying levels on retracement. On upside daily closing above 19975 means super bullish trend with sharp short covering rallied and targets of 20650 and then 21000. From long term view, Nikkei opened strong in 2017 given correction towards support of 17900 taken support just above it and now heading for 20950. Which is its first long term target zone for year 2017.
Hangseng weekly-hit 25k target next tgt will be 25350
Shanghai index weekly-hit bearish tgt 3065 now reversal rally?
SSE index this week closed at 3083 with loss but almost recovered all the losses from the lows. This week hit low around 3016. On downside 3065 and then 2985 were its bearish target zone and almost achieved both and now this strong recovery from lows suggesting bottom formation and reversal rally ahead. On daily chart, SSE has support zones at 3065 and then 3044 and these are buying levels with stop loss. On upside 3145 and then 3185 are resistances as well as target zones for this reversal rally. From long term view, SSE has broken down and entered into bearish trend. Below 3105 downtrend remain intact for long term bearish targets of 2635 and below.
Sensex weekly-hit 30350 target next target is 30740
Sensex this week closed at 30188 with gain. Sensex is in strong bullish trend and with intermittent correction going up and up. This week it achieved its May bullish swing target of 30350 and now heading towards support zones of 30100 and 29900. Remain buy on decline with stop loss and positional targets will be 30350 and above it major target will be 30750 which is next major swing target zone for sensex. From long term view, for 2017 sensex hit its long term target of 29650 and now heading for 32650 target zone which is its next long term target. On downside 26k was major support from where this rally was started.