Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Stock indices are mixed. DJIA and DAX are in a downward corrective phase and may continue in here, the Shanghai looks sideways. Nikkei looks Bullish and Nifty could test lower marks this week. PE
DJIA at 21349.63, +0.29% tried to recover slightly from the 29 June fall seen on 29th June. Momentum could be slow and movements narrow near term. The sideways phase may continue this week, and see a fall towards 21000 before it starts to move up.
DAX at 12325.12, 0.73% is trading below our expected 12400 on the Southside, while the index moves lower expect a test of 12000 near term. the downward correction may at least continue for the next 2-3 sessions.
Shanghai at 3182.82, -0.30% looks ranged within 3170-3195, and could spend a couple of more sessions there. Then, there is some ability to test 3160 on the Southside before trying to rise to 3200 or higher.
Nikkei at 20060.21, +0.13% looks Bullish while above 1st support at 19950, and has a potential to rise towards 20500 near term.
Nifty at 9520.90, +0.18% is trying to move up to 9600, but while the resistance at 9580-9600 holds, it could be difficult in here. If so, the index could test lower to 9400-9380 in the coming sessions before bouncing to 9580-9600.
Have a terrific week