STOCKS : Dow continues to remain mixed and continues to oscillate around 34000. It has to get a strong follow-through rise from here to avoid a fall below 33500. DAX has dipped below 15200 and can come under pressure if it falls below 15000. Nikkei has dipped below 29000 and can go down towards the lower end of its 28000-31000 range. Shanghai can also move down within its 3350-3500 range. Sensex and Nifty have key resistances ahead which will have to be broken in order to move up further. Inability to break their resistances can drag the indices lower in the coming days.
Dow (34060.36, +239.98, +0.71%) has risen back above 34000. But it has to get a strong follow-through rise from here to move up towards 35000 and also reduce the danger of falling below 33500-33000 towards 32000-31000 that we have been cautioning for some time.
DAX (15154.20, −137.98, -0.90%) has dipped below 15200. A further fall from here and a break below 15000 can trigger the expected fall to 14500-14000 from here itself and will negate the chances of seeing 15500-15700 on the upside.
Nikkei (28917.87, −136.10, -0.47%) has dipped below 29000. While it remains below 29000, a fall to 28500-28000 can be seen in the coming days. Overall, as we have been mentioning, Nikkei can oscillate in the range of 28500-30500 (narrow) or 28000-31000 (broad) for some time and a breakout of the range will give clarity.
Shanghai (3 453.51, −21.40, -0.62%) has dipped today after having risen over the last couple of days. The 3350-3500 range remains intact. While below 3500, we expect a fall to 3400-3350 in the coming days.