Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: DJIA near term looks Bearish.PE

DJIA at 24024.13, -1.74% fell sharply Tuesday contrary to my expectation of moving up from 1st support at 24300. Now, a fall to 23500-23200 is possible this week. Near term looks Bearish to me.

DAX at 12550.82, -0.17% is down a bit, while the resistance at 12650 is holding well in here. A clear break above 12650 could see DAX higher medium term to 12800, barring that a fall to 12400 and lower is possible. Strong medium term resistance at 12650 would be hard to crack now.

Nikkei at 22134.17, -0.65% dipped, and while the resistance at 22600 holds a fall to 21400 looks possible. While the index trades below 22600, the index looks Bearish to be.

Shanghai at 3115.70, -0.420 has come off , but there is buying stacked up 3050, while 3150 holds Shanghai could stay ranged within 3050-3150 trading sideways into next week. Near term is neutral.

Nifty at 10614.35, +0.28% closed above 10600 Tuesday but might not hold for long. Sticking to Bearish view to 10450-10400 ahead.

Stay tuned…

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