Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Nothing New. PE
DJIA at 21532.14, +0.57% has been re-testing Key resistances at 21500-21550 over the last few weeks but has failed to see any sharp rejection that could push it below 21300. While the Tug of War between the Bulls and Bears go on, we wait for price confirmation for more clarity on the direction. Only on a sustained break above 21550-21600 will I shift focus to higher marks, else a fall back towards 21300 and lower may happen.
DAX at 12626.58, +1.52% broke above 12500 and rallied to close above 12600, and 12750-12800 could be tested in the next few sessions.
Shanghai at 3200.90,+0.10% remains in the up channel and could target. 3220-3240 possibly next week. Overall trend is North.
Nikkei at 20128.88, +0.15% is ranged within 20000- 20270 and the price action seems to be in a contraction mode. A break above 20200 targets 20400 is in the coming sessions. Overall there is enough room on the Northside now keeping the Bullish possibility alive.
Nifty at 9816.10, +0.310 inched up Wednesday to close above 9800, so keeping my Bullish view at 9850-9900 intact near term.