Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing New. PE

DJIA at 24874.76, +1.37% moved up from 1st support instead of moving down to test lower supports near 24000-23600. The Northside could be limited at 25000-25200 medium term and an eventual test of 24000 is possible longer term. DJIA looks Bullish to me.

Note: While this support holds, the DJIA may rise to 25000-25200.

DAX at 12090.87, +1.49% bounced after the fall to 12000. DAX could attempt a test of 12200-12300 then another dip is possible. The horizontal support on the weekly seems to be holding just now as mentioned Monday, need to see if this bounce is short lived or moves higher to 12500 and above.

Nikkei at 21487.16, +2.12% is trading at support on the 3-Day candle, and while that holds, a bounce to 22000-22500 could happen.

Shanghai at 3247.79, +0.28% seeing 1st resistance here, while that holds, there could be a fall to 3230-3200 in the next 1-2 sessions.

Nifty at 10358.85, -0.95% tested to 10323 Monday, breaking my  support at 10380. If the index does not bounce right back, it could signal Bearishness to 10200-10000 near term, or a bounce back could take it higher to 10500-10800.

Sensex at 33746.78, -0.88% saw a clear break of 1st support. This could be indicative of coming Bearishness. Current marks are Key, keep an eye on them.

Stay tuned…

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