Morning Briefing Global Stocks
Commentary: Global stocks are in pull back phase and could test lower near term before resuming the upward rally. PE
DJIA at 20606.93, -1.78% rose from just below 20600. Overall broad trade within 21170-20410 may continue during the coming sessions, keeping the index in sideways consolidation near term.
DAX at 12590.06, -0.33% is in a short term correction phase, and could come off towards 12400-12300 near term before bouncing. That could create some more room on the Northside long term.
Shanghai at 3090.26 is stable and could bounce back from 3070-3050, expect the index to trade within 3050-3170 near term.
Nikkei at 19523.27, -0.16% is trading lower as expected and could fall towards 19296-19200 near term before bouncing to 19600. But looking at the rise in USD/JPY, the fall in Nikkei could be limited.
Nifty at 9429.45, -1.01% came off from marks near 9530 and could see a small dip Friday towards 9300 before bouncing. There is room for falling towards 9300-9265 in the coming sessions before resuming the rally.
Have a terrific weekend.
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