Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: DJIA and Shanghai look Bullish near term. The other indices are trading near Key renaissance and support marks and may take a few sessions to show us direction. PE

DJIA at 21807.64, +0.25% holds above the 1st support as seen on the 3-day. While the index remains above 21600, see some stable sideways consolidation in here. Looks Bullish to me.

DAX at 12214.54, +0.75% moved up ahead of the ECB meeting Thursday. But, unless a sustained rise above 12200 happens, have to consider a re-test of 12000-11900 near term. A sustained up-move above 12200 could drive prices higher to 12400.

Nikkei at 19430.19, +0.37% is trading above long term psych support at 19000 in place since June 2016, A fall towards 19000 may take a few more sessions before we see a bounce towards 19800 the longer run.

Shanghai at 3371.18, -0.42% is headed North targeting 3400 and higher near term. Action looks Bullish to me.

Nifty at 9916.20, -0.36% flashing caution, expecting a move South to 9700-9675  medium term, the index may bounce back from there to keep the uptrend intact. But, a clear break below 9750-9675 could bring on a sharp fall in the coming weeks. Nifty could take a couple of sessions more to decide. We wait, We watch.

Stay tuned…

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