Equities: Show Gradual Rise

Germany – DAX (10743) Target (11000)

DAX closed flat with a nominal weekly gain of 15 points.  Weekly candlestick shows a Doji.  Daily stochastic is rising and same on weekly has given an up tick.   DAX is trading volatile near 200 DMA which shows a tussle between Bulls and Bears to take the control.  However, as oscillators are showing strength, biasness prevails towards an upward move.

France – CAC (4637) Target (4750)

CAC also closed flat with a nominal weekly loss of 26 points.  Weekly candlestick shows a Doji.  Daily chart shows three trading ranges for CAC.  The upper, middle and lower trading ranges.  After giving a close below 200 DMA and breaking the support of 4750, it has entered into middle trading range which is between 4500 and 4750.  Thus, for now, a range bound volatile move can be expected between 4500 and 4750 till it moves beyond theses two levels.  A rise above 4750 will put it into upper range whereas a fall below 4475 will put it into lower.  Biasness prevails towards an upward move.

UK – FTSE 100 (6193) Target (5900)

Last week saw another lower top formation at 6323 followed by resumption of fall during the last few trading days.  The pullback rally hence seems to have terminated at aforementioned high.  Daily oscillators have now reached overbought territory.  The stochastic has given a sell signal at overbought territory while the RSI (14) and M.A.C.D indicator hovers around mid range.  For the coming week resistance to the up move comes at 6450 followed by major resistance at 6650.  Support below comes at 6000 followed by major support at 5850.

India – NIFTY (7963) Target (8125)

In line with expectation, the upward move continued in Nifty and it closed with a weekly gain of 102 points.  With this it has appreciated more than 400 points within 3 weeks.  Medium term chart shows that Nifty is moving volatile within a broad falling channel of around 1000 points.  It also shows two trading ranges of 500 points each within this channel.  With the rise, it has entered into upper range once again.

Risk Warning

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