Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Stocks are stable and could either stay ranged or move North near term. PE
DJIA at 21359.90, -0.07% has the potential to move up towards 21600 mid next week. The rise could be slow but overall near term looks Bullish to me.
DAX at 12691.81, -0.89% has come off sharply and while it trades below the Key resistance 13000, it may re-test to 12500-12400 medium term before possibly stating another leg of an upward rally.
Shanghai at 3128.27, -0.13% is trading lower and may test to 3100 before the next move North. Immediate trend looks Bearish in here.
Nikkei at 19917.73, +0.43% can move towards 20100 in the next 2-3 sessions. Momentum is slow, but a rise is expected while trading above 19700.
Nifty at 9578.05, -0.42% might see support near 9550-9530 Friday, then bounce near term. On a clear break below 9530 will have me change my Bullishness on Nifty.
Have a terrific weekend