Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Overall, I am Bearish near term. PE

DJIA at 23860.46, -4.15% came off to re-test 24000 indicating that the fall may not be over yet. There is good support in the 23600-24000 area, which may hold in here.

DAX at 12260.29, -2.62% came off, as Key resistance at 12700 is holding. Now need to see if the price falls below 12200 to test 12000 in here. A clear break below 12200 could push it to next support at 11870.

Nikkei at 21185.76, -3.22% tested support at 21000 seen on the 3-Day candle. While this holds, there is room for a bounce to 23000. But, a clear break South could make the index vulnerable to a fall to 20500 or lower medium term.

Shanghai at 3090.34, -5.26% continues to fall, breaking below the weekly support. While the fall continues, the index could be headed towards 3050-3000 early next week.

Nifty at 10576.85, +0.96%, and Sensex at 34413.16, +0.97% recovered a bit, but could see lower marks Friday. The indices are likely to re-tests immediate supports near 10380 and 33750 respectively or lower next week.

Have a terrific weekend.

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