Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Nothing New. PE
DJIA at 23439.70, +0.07% sees near term support at 23320 and has some chances of moving up from here to 23500 and higher. A break below 23320 will take it lower to 22800 near term.
DAX at 13074.42, -0.04% moved to support at 12900-13000, and bounced sharply from the intra-day low of 12960.
Note: 12900 is likely to act as 1st support, while that holds, DAX may either trade sideways above 12900 or rise to 13200 and higher.
Nikkei at 22441.24, +0.27% formed near term Top at 23382, it does not seem likely that the index will get back to those marks in the coming sessions. Rather, expect a test to 22170 near term followed by a small rise.
Shanghai at 3437.97, -0.29% came off after testing at 3450. While 3450 holds, a Southside test of 3440-3420 is possible, or if the rise sustains above 3450 may target 3500 medium term.
Nifty at 10224.95, -0.94% has been falling in line with expectations, and while the fall continues, the index may test to 10125-10100 in the coming sessions.
Note: 10100 is major support and could produce a bounce taking the Nifty back to 10200-10250 medium term. Near term looks Bearish to me.