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India Pre Market News : 18 May 2021

STOCKS Dow remains stable above 34000 and can remain in the 33500-35000 range for some time. DAX keeps alive the chances of seeing 15700-15800 on the upside before reversing lower. Nikkei is trading near a crucial resistance level of 28500 which will have to be broken to move further higher and avoid a fall back. Shanghai has increased chances of breaking above 3525 and move up further. Sensex and Nifty can test their crucial resistance levels of 50000-50500 and 15000-15100 respectively and has to rise past these levels to become more bullish. Dow (34327.79, ?54.34, -0.16%) remains stable and has dipped slightly yesterday. We retain our view of seeing a range bound move between 33500 and 35000 for some time. As mentioned yesterday, 33500 and 33000 are crucial supports. The outlook will turn bearish only on a fall below 33000. DAX (15396.62, ?20.02, -0.13%) hovers around 15400 and keeps alive the chances of seeing 15700-15800 on the upside first. A further rise above 15800 is less likely and we can expect DAX to reverse lower towards 15200 thereafter. Nikkei (28401.72, +576.89, +2.07%) has risen back sharply above 28000 and is hovering just below the crucial resistance level of 28500. A strong break above 28500 is needed to become bullish again. While below 28500, the view remains bearish to see a fall towards 27000-26000. The price action near 28500 today will need a close watch. Shanghai (3517.42, ?0.20, -0.01%) hovers near the crucial level of 3525. The price action over the

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