Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Almost all major indices are trading near Support & Resistance marks. We wait for a couple of sessions to get confirmation on direction. PE
DAX at 12177.04, +0.10% bounced from the weekly support at 11940, while that holds, the index may try to rise to 12300-12500 in the next 2 weeks.
DJIA at 21998.99, +0.02% may be headed towards 21800 while the resistance at 22200 holds. Medium term trade is possible within 21800 and 22200.
Nikkei at 19756.77, +0.02% is trading just above 1st support near 19450. If it holds could see a bounce to 20000, barring that a fall to and below 19450 to 19250 medium term.
Shanghai at 3234.99, -0.50% testing near term support on the weekly charts at 3200, while that holds, a bounce to 3300 is possible. Note: In case 3200 breaks to the Southside a move South to 3150 could happen.
Nifty at 9794.15, +0.86% looks to be holding well in here, while trading below 9900, will not negate the chances of a dip towards 9600 or lower. Note the current bounce could run to 9850 before another dip comes.