Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Almost all major indices except Shanghai saw a sharp mover North Monday, contrary to expectations that the corrective phase may continue for some more time. PE
DJIA at 21479.27, +0.61% rose sharply Monday testing the Key resistance at 21500-22000. We need a confirmed break above 22000 to further continue The Trump Rally, or the current rise could be considered as the initiation of false hope near term and the index may come off again in the next few sessions.
DAX at 12475.31, +1.22% bounced above 12400, while it remains above 12400, expect a rise towards 12600. But in case it fails to hold above 12400 now, then must consider a fall towards 12000 medium term.
Shanghai at 3182.16, -0.43% came off Monday to close lower. A test of 3160 on the Southside seems possible near term, but could be delayed if the index trades sideways for a few more sessions.
Nikkei at 20141.21, +0.43% opened with a gap up but is trading lower. A rise towards 20300 is possible in here.
Nifty at 9615.00, +0.99% closed at important marks Monday. If it rises past 9615-9625 and holds, consider that the immediate correction might be over and target marks near 9700-9800 near term. A fall back from 9615-9625 if seen could signal a fall back to 9500. Tuesday’s movement could decide the course of its direction.
Have a terrific 4th of July Celebration