Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Perhaps the trade tensions are weighing on global investor sentiments leading to further declines, indexes still look Bearish to me in here.PE
DJIA at 24461.70, -0.80% DIA may test to 24250 in here, and looks Bearish near term to me, unless that it closes over 24500, then it will head to 24, 834 the 1st important resistance, a clear break there sees 25,000+ next week.
DAX 12511.91, -1.44% could test to 12300 while it trades below 12800-12900. Near to medium term DAX looks Bearish too.
Nikkei at 22520.97, -0.76% tested 22800 and was rejected, see 22200 or lower now. This was the 3rd attempt to 22800 since May 2018, hard resistance to break now. So, while Nikkei trades below 22800, it could either be ranged within 22000-22800, or come off sharply.
Shanghai at 2861.89, -0.48% tested at 2950 and came off from there. Support for the Chinese benchmark could see 2800-2750 in the next 2 weeks. We are Bearish while it trades below 3000.
Nifty at 10741.10, -0.29% is trading below 10850, a clear break North is needed to start a fresh move higher. Barring that a fall back to 10600 is seen medium term.
Sensex at 35432.39, -0.32% is ranged within 35300-35750, and it could soon move sharply on either side of that range, thus telling us its direction.
Have a terrific weekend.