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India Pre Market News : 15 Oct 2019

STOCKS The rally in equities have taken a pause on doubts about the partial deal struck between the US and China last week. The news on China wanting for another round of talks before signing the first phase of deal has stalled the rally in the global equities. However, the broader picture still looks positive and need to be seen if the indices like the Dow, DAX and Shanghai can hold above their near-term supports. Dow (26787.36, -29.23, -0.11%) remained lower but stable. The view remains the same. While above 26500, the outlook is bullish to see 27250-27300 and even 27500 on the upside. A strong break above 27000 can accelerate the rally. The support at 12400 on DAX (12486.56, -25.09, -0.20%) mentioned yesterday is holding as of now. As mentioned yesterday 12400 has to hold in order to keep the bullish view alive of seeing 13000-13200 on the upside and negate the view of seeing 11800-11600 on the downside that we have been expecting all-through last week. Nikkei (22171.15, +372.28, +1.71%) has risen past 22000. As mentioned earlier, this break above 22000 will pave way for a test of 22500-22700. Shanghai (2993.97, -13.92, -0.46%) has come-off from its high of 3026.38 yesterday and dipped below 3000 today. There is some support in the 2980-2975 region which is likely to hold and take the index higher to 3050 in the near term. Sensex (38214.47, +87.39, +0.23% failed to sustain the break above 38500. While below 38500, it can continue to

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