Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Nothing new. PE
Note: Almost all major world stock market indices tested resistances or are trading just below resistance. While they hold, there will likely be some correction in the equity indices near term.
DJIA at 24706.41, -0.78% fell from the resistance I said Monday. If the fall continues, DIA could come off to 24500 again before it boounces.
DAX at 12970.04, -0.059% closed a bit lower, but there is support near 12800-12900, and while it support holds, my medium term outlook for DAX is Bullish.
Nikkei at 22728.74, -0.39% came down to test daily channel support. If the support holds, Nikkei could move to 23000+. Only a clear break below 22600, can expect the Nikkei to come off medium term.
Shanghai at 3177.87, -0.45% may stabilize at 3200 for now and while resistance at 3200 holds, near to medium term looks Bearish to me.
Nifty at 10801.85, -0.044% posted an intra-day high at 10900 on news of the Karnataka election results. Some stability could happen over this week. 1st support is at 10800 and if that holds, Nifty could move up near term.