Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing new. PE

DJIA at 24758.12, -1.00% looks Bearish in here, and could easily break below 24500. The Key resistance at 25,500 looks to be holding well if so, DJIA may come off to 24000 over the next few sessions before we see a bounce.

DAX at 12237.74, +0.14% looks Bearish to 12000 or lower near term. It would be difficult for DAX to move North with any conviction while trading below 12500.

The daily chart shows some scope of re-testing 21000 on the downside for

Nikkei at 21674.48, -0.47% and there is strong support at 21400, which if holds, could trigger medium term Bullishness. So, watch the price action around 21400.

Shanghai at 3286.22, -0.16% is coming down from 3350. It could be ranged within 3350-3200 near term.

Nifty at 10410.90, -0.15% has been ranged within the 10500-10100 for the last 2 weeks. A fall below 10200-10100 would trigger a fall, or if it moves above 10500-10600, our focus will turn to the Northside.

Sensex at 33835.74, -0.06% must move above 34000 to bring on medium term Bullishness. And, while below 34000, see a retest to 33500-33000. As long as Sensex trades below 34000, near to medium term looks Bearish to me

Stay tuned…

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