KOSPI, NIKKEI 225 and NIFTY 50 Forecast – Asian Indices Continue to Look Strong Overall

KOSPI Technical Analysis

The KOSPI in South Korea has given back the initial gains on Monday to show signs of hesitation, but quite frankly, this is a market that I think probably will have plenty of buyers on pullbacks.

KOSPI has been one of the better performers for months now, and at this point in time, I believe that the 5,000 level will continue to offer support, but I would be surprised if we even got that low. Somewhere around 5,400 I would look for buyers to come back in and try to support what has been a very strong run of play for the South Koreans.

NIKKEI 225 Technical Analysis

The NIKKEI 225 is a little bit negative during the trading session on Monday. Again, I think this is a positive market as well, but we just do not have the momentum to get things going at the moment.

I would like to see a little bit deeper correction that I can take advantage of just from a trade management standpoint, but clearly, the only direction to trade the NIKKEI 225 right now is to the upside. The 54,750-yen level should continue to be supported, and now we have the 50-day EMA racing towards it as well, so I think that is a good sign as well.

NIFTY 50 Technical Analysis

The NIFTY 50 in India had a very strong day after initially gapping lower but then shot straight up in the air to test the 50-day EMA. If we can continue to break above the 50-day EMA, then it opens up the possibility of a move to the 26,000 level.

The 200-day EMA underneath is offering support, and really, I think anything that moves towards that probably would be a potential buying opportunity. I still like buying dips here.