Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: There has been talk of concern over tightening of financial regulations, do not see it now. PE
DJIA at 21637.74, +0.39% closed above 21600, breaking a major long term resistance, if it holds I see the rally to continue towards 22000 a Key resistance. A small dip from 22000 is possible before it resumes its rally towards 22500 and higher longer term.
DAX at 12631.72, -0.08% rose sharply last week and may well continue towards 12750-12800 before again coming back towards current marks. Near term looks Bullish to me.
Shanghai (3189.48, -1.02%) fell to levels near 3139 in the morning trade before again recovering to 3190, 1st support is seen near 3170, if holds could keep the prices higher near term. A bounce back towards 3200+ seen near term.
Nikkei at 20118.86, +0.09% needs to bounce back from current marks to move North towards 20300 and higher, or a break below 20000 is possible. For now I prefer to see a bounce to 20300 or so.
Nifty at 9886.35, -0.05% has the ability to move up towards 10000 in the coming sessions before it comes down to 9800. Near term looks Bullish to me.
Have a terrific week.