Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA$DAX, $DJSH, $N300, $NSEI

Commentary: The major stock indices are in a corrective mode, and expect to continue for a 2 -3 of more sessions before I see a recovery.PE

DJIA at 22085.34, -0.15% moved up straight to 22180 Tuesday before coming off to close below 22100. Some corrective dip is possible in the next 3-4 sessions before the price index starts to move up. The current decliner could extend towards 22000 near term.

DAX at 12292.05, +0.28% is stable, and is in a sideways consolidation mode. There is room of a rise towards 12400-12500, while it trades above 12200. Near term looks Bullish to me.

Shanghai at 3269.08, -0.40% dipped a bit, but while above 3240, near term looks Bullish to 3300.

Nikkei at 19739.88, -1.28% fell off sharply from almost 20000 to re-test support at 19700. In case it breaks below 19700, we could see the fall extend towards 19450, if not a bounce back from current marks looks likely in here.

Nifty at 9978.55, -0.78% made an intra-day low at  9947 Tuesday in line with expectations. While the support at 9950/30 holds, could see a bounce to 10100-10200 near term. A break below 9930-9900 could bring in lower marks, but need to wait for some price confirmation. Near term is likely to be Bullish for now.

Stay tuned…

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.