Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: DJIA bounce off of the 10% mark Monday, tested it Tuesday, and bounced sharply into the Green, moving up and down testing and retesting on heavy volume.PE

DJIA at 24893.35, -0.08% moved up to test near 25500. Near term is likely to see some ranged-trade in the 25500-24000 ares. A clear break above 25500 if seen over Thursday and Friday could DJIA to 26000.

DAX at 12590.43, +1.60% moved up from 12200, but a rise above 12700 is needed to drive DAX to higher near term. While below 1st resistance 12700, there could be another chance of a fall back to 12400-12300.

Nikkei at 21700.94, +0.26% may move to 22600 while Key support at 21000 holds in here. Near term looks Neutral to Bullish while trading above 21000.

Shanghai at 3282.74, -0.80% broke below channel support seen on the 3-day candles. If the index comes back above 3300, then it could move to 3450 near term, or a fall to 3250 or lower looks likely while trading below 3300.

Nifty at 10476.70, -0.21%, and Sensex at 34082.71, -0.33% came off in 2-H of the session Wednesday to close lower. Weakness in the indices may not have ended yet, and while it remains in a pause mode look for a re-test of 10380 and 33750. Watch price action near mentioned support marks.

Stay tuned…

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