Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: Overall major stock indices are trading higher. PE
DJIA at 25335.74, +1.77% moved North in line with my expectation and may test 1st resistance at 25500. If that holds, a dip back to 25000-24500 is possible, or a break above 25500 could be Bullish DJIA to 26000 or higher medium term.
DAX at 12346.68, -0.07% is stable below 12400. While resistance near 12400/500 holds, a fall to 12200 or lower is on the cards.
Nikkei at 21803.93, +1.56% is trading near 1st resistance, and if it holds, a dip is likely to 21400-21000, or a rise above current marks, if seen could drive the index higher to 22600 this week.
Shanghai at 3326.72, +0.59% seeing resistance 3350, and is likely to test that this week before coming off from there. My view is Bullish within a Bearish outlook medium term.
Nifty at 10226.85, -0.15% may come off to 10080-10020. Then a bounce back to 10320-10380 levels is possible.
Sensex at 33307.14, -0.13% to test 33750 near term before coming off to 33000. Overall range trade is likely to continue for some time now.
Have a terrific week