Dow Jones Industrial Average - this NYSE index is clearly in a bearish channel and the crucial 10,000 levels are proving to be a short term floor around which this index is finding support. Only a sustained closing above 10290 will the outlook turn positive. The main trigger that the US markets are awaiting is the US FOMC meet on Tuesday ( Wednesday in India ) which will set the pace for the markets. The oscillators are pointing towards a possible bullishness which needs to be confirmed by the price graph surpassing the 10290 levels.

Your call of action - this is a pure academic study.

Nasdaq - like the Dow Jones, the Nasdaq too is moving within a bearish channel and is just about managing to stay above the 1900 levels. Only a sustained trade above the 1960 levels will see a short term trend reversal. The FOMC meet is a crucial event the markets are awaiting and a clear trend will emerge only thereafter. Watch the 1900 mark on a closing basis very keenly.

Your call of action - this is a pure academic study.

FTSE - This index has actually violated the bearish channel and trades below it since the last 3 sessions. Upsides are likely to be capped at 4870 and a sustained fall below the 4760 levels will trigger fresh sales till the 4710 mark in the short term.

Your call of action - this is a pure academic study.