Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Stock indices are all trading higher Tuesday. Sideways consolidation is possible near term if not a immediate rise. PE
DJIA at 23430.33, +0.31% is stable, while above 23200, there is room to move to 23600. Sideways consolidation is likely to continue in here.
DAX at 13058.66, +0.50% is holding above 1st support near 12900 and could trade sideways within 13000-12900, if not rising sharply above 13100 now. A clear break above 13100 could initiate a rally towards 13200-13300 near term.
Nikkei at 22488.38, +1.02% has support at 22200 and the bounce from there Monday may sustain this week. Trade within 22800-22000 is likely for now.
Shanghai at 3408.64, +0.48% tested near 3337 Monday before closing near 3400. The bounce from Monday’s lows is indicative of near term Bullishness and the index could head to 3450 and higher near term.
Nifty at 10298.75, +0.15% can rally to 10400-10500 while above 10200 now.
Note: 10200 is good medium term support and is likely to hold in here.