Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: DJIA’s Key support held. PE
DJIA at 25520.96, -2.54%) has seen the sharpest decliner since the rally that started from levels near 15500 in February 2016. With this there could be some possibility of some more fall towards 25000-24500 levels before resuming the uptrend. Near term looks Bearish in here within the broad long term up trend.
DAX at 12785.16, -1.68% is trading lower and could test support at 12700, which may hold in here, and then may bounce to 13000. A break below 12700 could turn Bearish medium term, the focus on 12600-12400. Watch carefully in here.
Nikkei at 22728.83,-2.34% gaped opened down Monday and is trading near 1st support at 22700. A break below this mark, if seen and sustained indicates Bearishness to 22600-22400 medium term. Or, a bounce to 23000 or higher is possible.
Watch carefully in here too.
Shanghai at 3443.11, -0.55% has tested to 3390, and now may see a rise to 3510 near term. Or, barring that a within 3390-3500 is possible near term.
Nifty at 10760.60, -2.33%, and Sensex at 35066.75, -2.34% fell and could test 1st support at 10550 and 34000 respectively. Then a short bounce may happen. Near term looks Bearish to me.
Have a terrific week.
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