Dow (16976.81, -0.94%), in a reflection of the geo-political risk,
reversed to the downside and now the upward momentum runs the risk of
losing out if 16850-750 fails to hold. If the risk is of short term
nature, then expect the range of 16850-17150 to hold today.
Dax (9753.88, -1.07%) failed to break above 9871 to confirm the strength and the entire gain of the day before was lost. Weakness fully returns below 9700.Nikkei (15202.55, -1.09%) came down sharply just as expected while trading in the range of 15000-500 for the last 4 weeks, which may not break today. The Shanghai (2062.79, +0.35%) failed to break above the upper end of the contracting range at 2080-90 which would signal a considerable bullish reversal towards 2140-80. This signals a continuation of the broader range of 2000-2090.
Nifty (7640.45, +0.21%) spent the session trading sideways but the expected 40-60 points correction may emerge today at the very opening. Bulls would prefer any dip not to go below 7590-70 with the possibility of another new high above 7655 still alive.