Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: Nothing New. PE
DJIA at 26115.65, +1.25% now has 1st resistance near 26200, if it holds, may see a dip to 25600-25800.
DAX at 13183.96, -0.47% look headed to 13000 near term or stay in pause mode for a few sessions. The 3-Day candle signals some more Bearish moves before trying to move beyond 13400 in longer run.
Nikkei at 23978.61, +0.46% moved up Thursday, and a move to 24200-24300 looks probable near term before a fall comes. The resistance on the weekly charts are holding, and could produce a rejection next.
Shanghai at 3458.68, +0.41% looks Bullish near term and could rise to 3500-3550 in the coming sessions. A corrective decline from 3550 looks possible in longer run.
The Indian government’s decision to lower its additional market borrowing by 60% triggered the rise in the banking stocks which took the Sensex at 35081.82, +0.89% to above 35000. The Northside momentum is likely to continue keeping the index trading above 35000.
Nifty at 10788.55, +0.82% could head to 10800 or higher Thursday, but is expected not to hold.
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