Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange. Last week we had advocated support at the 10,000 levels ( click here to view our previous editions ) which proved a major psychological support for the markets. The Dow Jones has retraced from the 10750 mark and is showing signs of profit taking on advances. The index is likely to remain under pressure till it surpasses the 10750 levels with heavy volumes. Expect the 10,000 levels to be a good short term base for this index in the near term.

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 is making lower tops and bottoms and is showing significant weakness, thereby making the chances of a major recovery as dim. The 1868 levels would remain a good base for this index - which if violated, will take the Nasdaq to 1810 levels. Only above a 2175 close, expect the next resistance at the 2240 - 2250 levels. Till then, the outlook remains weak.

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 4300 level support, this index is making a base in the near term and showing short term weakness ( click here to view our previous editions ). Our outlook though mildly negative for this index is now that of an out-performer as compared to the US markets. The oscillators are pointing towards a fall at present levels - only above a conclusive close above 4560 levels, will a new rally start.

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