Dow Jones Industrial Average - this NYSE old economy benchmark has run into resistance at the 10868 levels on lower volumes and profit sales by bulls on year end considerations. The outlook in the week ahead remains positive and we expect support at the 10625 levels in the coming week. A fresh bullishness is unlikely till the index closes above the 10870 levels with higher volumes. The Dow currently trades near it's 3 1/2 year highs.

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

Nasdaq - the Nasdaq has also made a similar chart pattern as the Dow Jones index above and is currently trading at it's 3 1/2 yearly highs. The breakout from the bearish channel is now a confirmed flag formation and enables a projected target of 2240 levels in the short / medium term in a conducive market scenario. The 2130 levels remain a critical support to watch.

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

FTSE - this UK index has shown higher relative strength as compared to the US indices as the FTSE nears a congestion level of 4845 levels. Only above a conclusive close over this level will the index witness a fresh rally. On the lower side, expect support at the 4740 levels.

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