India Pre Market News : 23 Jan 2020

STOCKS Asian indices are trading in red as the outbreak of the coronavirus is weighing on the markets. Nikkei is struggling to breach 24000 and has a key support at 23800 which will need a close watch. Similarly, Dow and DAX have important supports near current levels which need to hold to keep the possibilities alive of seeing a fresh rise again. Sensex and Nifty have declined sharply and are bearish to see further fall. Shanghai can remain subdued and can manage to sustain above 3000. The Chinese markets are closed from tomorrow (24-Jan-20) for a week till next Thursday (30-Jan-20). Dow Dow (29186.27, -9.77, -0.03%) remained lower but stable yesterday. 29100-29000 will be an important support zone that we will be watching in the coming days. The index has to sustain above this support zone in order to keep the possibilities alive of seeing a fresh rise again. A break below 29000 can drag the Dow lower to 28800-28700. DAX (13515.75, -40.12, -0.30%) surged to 13640 but has come-off from there. Though the broader picture is bullish while the index remains above the 13400-13350 support region, the near-term outlook is mixed. The index can oscillate between 13400-13600 for some time. Nikkei (23886.56, -144.79, -0.60%) has come-off again and seems to be struggling to breach 24000 decisively. 23800 will be an important support to watch. A break below it can drag the index to 23600 and even 23200-23000 in the coming days which will then delay our preferred rise to

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