- DAX index has shown a minor recovery from the yesterday low of 12178 and closed slightly higher at 12376 0.29% higher. US markets has shown a good jump on Friday after better than expected US nonfarm payroll data. S&P500 futures is trading slightly on the higher side at 2799 0.37% higher. Asian stock indices are trading lower on the footsteps of US markets.
- DAX index has formed a minor top around 12605 and started to decline from that level. The index should close above 200- day MA at 12723 for further bullishness.
- The minor bullishness can be seen only if it closes above 12320 (10- day MA) and any close above will take the index to next level till 12500/12605. It should break above 12740 for further bullishness.
- On the lower side, near term major support is around 11800 and any close below will drag the index till 11400/11000.The minor support is around 12000.
It is good to buy on dips around 12150-200 with SL around 11975 for the TP of 12660/12740.
