Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary:  Investors rallied around the US Employment Situation Report for June Friday to finish the abbreviated week on a positive note. PE

DJIA at 21,414.34, +94.30 bounced after breaking below 21400 Thursday, indicating that the downward correction might may be over.

Note: 21500 is a Key long term resistance mark, which could bring in sharp rejection towards 21200 or lower. Medium term looks Neutral  to slightly Bearish.

DAX at 12381.25, -0.58% has been trading between 12500 and 12300, and as mentioned Thursday, while 12500 holds we could see some more Southside in the near term possibly extending towards 12200. Near term looks Neutral to Bearish.

Shanghai at 3196.23, -0.50% is in an uptrend and could see a rise to 3220-3240 with some dips. We could see a bounce from 3190 back to higher marks this week.

Nikkei at 19965.78, -0.14% tested 19856 contrary my expectation of a rise. There could be some chances of testing 19750 near term but overall medium term looks Bullish.

Nifty at 9674.55, +0.38% made an intra-day high of 9700 Thursday, testing our initial target. 9700 is an important mark, if it breaks, we could see a sharp 100 pt rally towards 9800 soon. Or there could be some room for consolidation within 9600-9700.

Have a terrific week.

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