Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Fed hiked interest rates by 25bpts as expected, has not impacted the DJIA much.PE

DJIA at 24585.43, +0.33%) inched up to test 24666 before closing at slightly lower levels yesterday. We continue to look at important resistance near 24800 and while that holds, Dow could come off sharply from there or trade sideways in the 24800-24000 region in the coming sessions.

DAX at 13125.64, -0.44% seeing resistance at 13,200 near term and while that holds, DAX is likely to trade sideways within 13200-12900. DAX is likely to come down below 13100 in the next few sessions. For any further to the Northside, DAX will have to break above 13200 and sustain near term.

Nikkei at 22726.76, -0.14% is trading below Key resistance at 23000.

Note: the Index is range-bound within 22200-23000 region and is likely to continue in the same region for a few more sessions. Near term preference would tilt on the Southside if the fall in USD/JPY at 112.64 continues near term to 112 or lower.

Shanghai at 3292.71, -0.31% looks Bearish near term to me. While 1st support at 3260-3280 holds, could see some trade within 3260-3320 rangein the next few sessions.

Nifty at 10192.95, -0.46%, and Sensex at 33053.04, -0.53% are headed South, and are in the correction phase. Nifty could target 10100, Sensex seen moving down towards 32750-32500 in here.

Stay tuned…

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