Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Trade worries between US and China fade, earnings the focus and a overall Bullish outlook.PE
DJIA at 25199.29, +0.32% is moving to test 1st resistance at 25250. DIA looks Bullish in here with 4-sessions up. If DIA breaks above 25250, will likely continue to rally to 25600 medium term.
DAX at 12765.94, +0.82% is targeting 13000 in here.
Note: 13000 is Psych resistance and may hold medium term pushing DAX back to 12400-12200.
Nikkei at 22870.47, +0.33% is stable, there is enough room on the Northside while trading above 22800 and it may soon move to 23000-23200. Our view is Bullish while trading above 22800.
Shanghai at 2791.21, +0.14% looks ranged within 2850-2750. A re-test of 2750 is likely before bouncing to 2850.
Nifty at 10980.45, -0.25% sees 1st support at 10950 . While it holds, Nifty may see a bounce to 11100-11200 near term. A clear break below 10950 makes it vulnerable for a fall to 10850-10800 medium term.