Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Nothing new PE
DJIA at 25462.58, +0.54% has moved up to re-test 1st resistance at 25500 and if that holds, DIA could trade neutral or sideways below 25500 for sometime and/or see a dip. Only on a clear break above 25500 expect Bullishness in the benchmark DIA over the longer run.
Note: US stocks rose last week as investors digested the Fed’s latest policy directive and Apple’s (NASDAQ:AAPL) Quarterly earnings report, which helped boost the company’s market cap above the unprecedented $1-T mark. The S&P 500 advanced 0.8%, and the tech-heavy NAS Comp rose 1.0%, DIA lagged, adding only 0.1%.
Looking ahead, investors will not receive any notable economic data on Monday, 6 May 2018
DAX at 12615.76, +0.55% has to move up above 12700 and must hold in order to continue the rise to 13000 medium term. On the weekly lines, DAX is likely to range trade within 12400-13000 over the balance of this month.
Nikkei at 22626.56, +0.45% has been range trading within 22400-22800, and trying but unable to decide on its direction. Unless the Nikkei falls below 22400-22300 marks, there could be a strong chance that the index breaks above the 22800 mark in the medium term. Price action near 22800 is Key to watch.
Shanghai at 2736.04, -0.16% is trading above 2700 in here. While there is a chance to test lower marks around 2650, the benchmark Chinese index could rise again to 2800 medium term.
Nifty at 11360.80, +1.03% is moving to resistance at 11400-11500, which could the push the index back to 11300. Just now Nifty looks Bullish for this week to me.
Have a terrific week