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Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange. Last week we had advocated resistance at the 9950 levels which was a strong inflection point. Since that level is surpassed and a psychological hurdle of 10,000 overcome, expect fresh bullishness. The news of Saddam Husseins capture will boost sentiments further. Expect the rally to see 10,300 - 10,400 levels.

Your call  of  action - Since Indian investors are not allowed to trade in overseas markets, this  is  a  pure academic study.

Nasdaq - This new economy benchmark index measures the outlook on the Nasdaq exchange. This index has made a new 22 month high recently and has been advocated by us as making a saucer formation. The relative strength of this index is turning lower than that of the Dow. The 1900 levels will be a  short term support for the markets. On the upsides, expect resistance at the 1995 levels. Only above the 2000 mark, will the index show any signs of revival. The outlook has turned positive after Saddam's capture.

Your  call  of  action - Since Indian investors are not allowed to trade in  overseas markets, this is a pure academic study. 

FTSE - This index measures the outlook on the London stock exchange. As we have been forecasting a 4400 level resistance, this index is unable to surpass that point on a closing basis and show any short term strength. The upsides will see minor resistance at the 4460 levels and support at the 4290 levels. Our outlook is positive for this index.

Your  call  of  action - Since  Indian  investors  are  not  allowed  to  trade in  overseas  markets, this  is  a  pure  academic  study.