Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: The Key global stock markets have all moved up nicely in the last few weeks and are likely to test resistance levels above current marks, which if they holds could push the prices to lower soon. PE
DJIA at 26071.72, +0.21% is stable near current marks and looks to have paused in here. While trading below 26250, there could be some sideways movement in the 25750-26250 before DJIA resumes its Northside rally. Do not see the US government shutdown have any important impact on the benchmark index.
DAX at 13434.45, +1.15% rose sharply last week to close above 1st resistance near 13400. While the move holds, DAX could continue to 13500 and higher in days ahead.
Nikkei at 23772.02, -0.15% is seen trading below 24200-24000, and come off sharply medium term. Looks Bearish to me.
Shanghai at 3490.78, +0.08% tested resistance at 3500. Now, 3500-3510 is 1st resistance, and is likely to hold medium term pushing index lower. Failure to come off from 3510 could take it higher towards 3530-3550 longer run.
It will be Key to see if Sensex at 35511.58, +0.71% will come off from 35750-35800, and Nifty 10894.70, +0.72% come off from 10950-11000. Am expecting rejections in here, but the prices are not signalling that yet.
Have a terrific week