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India Pre Market News : 11 Aug 2020

STOCKS Dow has risen in line with our expectation and has room to move up further. But crucial resistance is coming up in the 28000-28200 region which will need a close watch as a sharp correction could be possible from there. DAX continues to trade stable below 12800. Nikkei has moved up but has an important resistance which needs to be broken in order to bring back the bullishness and avoid a fall again. Shanghai can move up towards the upper end of the 3180-3450 range in the coming days. Sensex and Nifty have risen well yesterday thereby by strengthening our bullish view. A further rise can be seen in the coming days. The Dow (27791.44, +357.96, +1.30%) has risen further as expected indeed has moved above 27600. The rise past 27600 will now have opened doors to test 28200 on the upside. As mentioned yesterday, 28000-28200 will be an important resistance to watch from where a sharp corrective fall could begin. We will be watching that cautiously. DAX (12687.53, +12.65, +0.10%) continues to trade stable inside the narrow range of 12500-12800. We reiterate that a strong break above 12800 will be needed to bring back the bullish sentiment and resume the uptrend. While below 12800 the bias is negative to see a break below 12500 and a corrective fall to 12000 and even 11500. Nikkei (22710.60, +380.66, +1.70%) has risen back well above 22500 to test 22700. This has eased the danger of seeing a fall to 22000 that

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