Asx 200 remain weak targets 5610 and 5530
Asx 200 index this week closed with huge loss at 5672. This week asx high point was 5765 and low was 5661. Closed near lows with heavy loss on fresh selling as well as profit booking by investors on weak commodity prices. Asx is in downtrend for month of February and below 5745 remain sell for targets 5610 and then 5530. From long term chart, asx is correcting towards 5400 support zone.
Nikkei 225 short term downtrend targets 18650 and 18200
Nikkei 225 index this week closed with huge loss at 18918. This week Nikkei hit high at 19390 while low was at 18830. Total almost 550 points drop from top in a week. Nikkei daily chart price trend and momentum both are bearish. Below 19125will remain sell on rise or bearish for targets 18650 and then 18200. On long term charts, Nikkei is retracing towards major support of 17900.
Hang seng index correcting towards support 22850
Hang seng this week closed with flat loss at 23129. Hang seng this week hit high at 23500 while low was at 22997. Total 500 points weekly swing and flat negative closing on profit booking. On daily chart, Hang seng index short term trend is still bullish and above major support of 22850 it will remain buy for targets 23800 and 24400. On long term charts, looking bullish and slowly heading towards 2017 targets of 24800 and above.
Shanghai composite bullish breakout remain buy above 3125
Sensex index near targets 28350
Sensex 30 index this week closed at 28240 with another strong gains. This week sensex hit high at 28299 while low was at 27590. Total 900 points strong rally from low and second positive week for this major Indian stock index. For month of February,is bullish and it is heading towards targets of 28350 and then possibly expect 28900.