Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: The world’s major stock indices spiked Monday. DJIA, DAX rallied, and Nikkei opened higher. Shanghai may be in a pause mode in here. Nifty looks Bullish for the week to me. PE
DJIA at 22057.37, +1.19% traded sideways since mid-August, built base, gathering momentum for a sharp rise seen Monday, 1st resistance is seen at 22100, which is likely to break, the targeting 22400 sooner rather than later.
DAX at 12475.24, +1.39% gaped up at the open, and rose. The Bullish momentum looks strong now and could drive DAX to 12750-12800 again.
Nikkei at 19742.20, +1.00% gaped up above my 1st resistance at 19600. A test of 19900-20200 is seen near term.
Shanghai at 3375.37, -0.03% may test 3400 in here. A slight fall near term could be helpful to gain some more momentum to resume the uptrend. Now may see consolidation between 3400-3300.
Nifty at 10006.05, +0.72% may well re-test 10100 or higher now, while 1st support near 9900 holds, then after a dip can happen.
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