Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: Nothing New.PE
DJIA at 26214.60, +0.55% finished up Monday and could continue to 26400-26500 near term.
DAX at 13463.69, +0.22% may test support at 13400, then try to move to 13600 in the coming sessions. While trading above 13400, my view is Bullish.
Nikkei at 24037.86, +0.93% is trading above 24000 and is likely to move to 24200 in here.
Shanghai at 3530.32, +0.84% moved up to test at 3530, and may soon move to 3550 in here.
Note: 3550 is an major resistance and the index could come off from there back to 3500 medium term.
Nifty at 10966.20, +0.66%, and Sensex at 35798.01, +0.81% moved up Monday. The markets are currently driven by liquidity flow into the emerging markets, India is a beneficiary of that action. As news suggests, foreign institutional investors have bought Indian shares worth $993.16-M so far this month.
Note: Equity allocation are at the highest levels since March 2015. While the flows keep coming, the Nifty could move higher in here. Targets for Nifty remains at 11000 and for Sensex at 36500 for now.