Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Nothing new. PE
DJIA at 21812.09, -0.40% dipped Wednesday, and if it remains below 21900, chances of testing to 21670-21600 cold happen. A medium term Top might have been made near 22179 earlier this month, while that holds, I remain cautious for dips to the Southside.
DAX at 12174.30, -0.45% is trading above weekly support at 11980, which may drive the index to higher in the coming sessions. A break below 11980 could extend the fall to 11700-11600 in the coming weeks. Watch price action near Key support at 11980 now.
Note: Asia-Pac looks Bearish near term. The stock indices are all set on extending the Sothside correction before attempting on any recovery.
Nikkei at 19408.80, -0.13% while it remains below 19650 the fall could continue towards 19000 near term. This could also lead to a fall in the USD/JPY at 109.16 ahead.
Shanghai at 3283.58, -0.13% could start South, while resistance at 3300 holds. A fall towards 3260/50 looks real for now. Unless a break above 3300 is seen, expect a short fall ahead.
Nifty at 9852.50, +0.89% finished above 9850 Wednesday, but is likely to remain range-bound within 9700-9900 in here. 1st support and resistance marks are seen at 9700-9680 and 9900 respectively. I suggest caution, as the Southside vulnerability is intact while trading below 9900.