. Daily Index Analysis - DAX 40 Soars Amid Investor Anticipation

Daily Index Analysis – DAX 40 Soars Amid Investor Anticipation

Daily Index Analysis – DAX 40 Soars Amid Investor Anticipation

01 Nov 2023

Introduction:

In the global indices market, Asian markets are trending higher, taking cues from Wall Street’s overnight gains. The Nikkei 225 in Japan and South Korea’s Kospi saw significant increases. Meanwhile, European shares are edging up, driven by the retail and healthcare sectors. On Wall Street, stocks closed higher, with investors anticipating the Federal Reserve’s decision while evaluating various corporate earnings reports.

Market In Focus for today – DAX 40

Europe’s primary index saw a slight increase on Wednesday, primarily driven by the healthcare and retail sectors, as investors prepared for the Federal Reserve’s policy announcement later in the day.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 14884.64 | Positive Crossover | Bullish
  • MA 20: 14889.31 | Positive Crossover | Bullish
  • MA 50: 15044.87 | Negative Crossover | Bearish

Simple:

  • MA 5: 14878.2 | Positive Crossover | Bullish
  • MA 20: 14862.1| Positive Crossover | Bullish
  • MA 50: 15108.58 | Negative Crossover | Bearish

RSI (Relative Strength Index): 48.51| Buy Zone| Positive

Stochastic Oscillator: 73.41 | Buy Zone | Positive

Resistance And Support Levels:

  • R1: 14986.7 | R2: 15335.5
  • S1: 14704.3| S2: 14388.6


Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 15075.9 | Take Profit: 15335.5| Stop Loss: 14907.9.

Elsewhere in the Indices Market

Asia Markets trade higher following overnight gains on Wall St.

The Shanghai composite is up at 0.14%. Overall, the Singapore MSCI up 0.02% to 272.00. Over in Hong Kong, the Hang Seng Index down 0.06% to 17,101.78. In Japan, the Nikkei 225 up 2.41% to 31,601.65, while the Topix index was up 2.53% to 2,310.68. South Korea’s Kospi up 1.03% to 2,301.56. Australia S&P/ASX 200 up 0.85% to, 6,838.30.

European shares edge up on retail, healthcare boost.

The DAX futures contract in Germany traded 0.05 higher, CAC 40 futures in France down 0.03% to 6,883.33 and the UK 100 futures contract in the U.K. down 0.15% to 7,311.03.

Wall St close higher on eve of Fed decision; investors assess earnings.

The primary stock indices on Wall Street closed the Tuesday session in positive territory as investors focused on the forthcoming monetary policy announcement from the Federal Reserve and assessed a diverse set of corporate earnings reports.

Indexes: Dow up 0.38%, S&P 500- up 0.65%, Nasdaq up 0.48%.

Corporate News:

Amazon.com, Inc. (AMZN) up 0.29% at 133.09, Walt Disney Co (DIS) up 1.13% at 81.59, Apple Inc. (AAPL) up 0.28% at 170.77. Goldman Sachs Group Inc (GS) up 0.92% at 303.61, Morgan Stanley (MS) up 0.33% at 70.82.

Key Economic Events & Data Release Today:

(NZD) Employment Change (QoQ) (Q3) Actual –0.2%, Forecast 0.4%, Previous 1.0% at 03:15.

(NZD) RBNZ Gov Orr Speaks at 03:30.

(CNY) Manufacturing PMI (Oct) Actual 49.5, Forecast 50.8, Previous 50.6 at 07:15.

(USD) ADP Nonfarm Employment Change (Oct) Forecast 150K, Previous 89K at 17:45.

(USD) ISM Manufacturing PMI (Oct) Forecast 49.0, Previous 49.0 at 19:30.

(USD) Fed Interest Rate Decision at 23:30.

(USD) FOMC Statement at 23:30.