Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: Nothing new. PE
DJIA at 23644.19, -1.90% came off in line with my expectation to below 24000. As mentioned yesterday, near term is likely to be ranged in the 24500-23500 region. The longer term, there could be chances of breaking below 23500-23000, we will wait and see.
DAX at 12096.73, +1.31% was closed Easter Monday. The downward channel of 12300-11700 is holding well now. A test of 12200-12300 is possible before DAX comes off to 11800-11700 again.
Nikkei at 21218.06, -0.80% fell instead of holding above 21400. While the index trades lower, may see re-testing 21000-20800 or lower, as mentioned Monday.
Shanghai at 3133.80, -0.93% came off finding it difficult to move above 3200 now. This could keep the index ranged within the 3100-3200 for now.
Note: a rise above 3200 is needed to take the index higher medium term.
Nifty at 10211.80, +0.97% rose Monday contrary to expectations for a dip to 10020.
Note: Resistance near 10260 may push the index lower in the days ahead.
Sensex at 33255.36, +0.87% may see resistance at 33250, and while that holds, see a fall to 32500 or lower soon.
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