Equity snapshot (indices)

Equities have started the week in defensive tone. Performance this week at a glance in chart & table -

S&P 500 -

• S&P gained over last week today, as earnings report from companies remain satisfactory as a whole.
  
• Risk aversion has subsided last week, however risk on sentiment is yet to provide push to equities.
  
  
• S&P 500 is currently trading at 2115. Immediate support lies at 1980, 2040 and resistance 2125, 2164.

FTSE -

• FTSE is struggling today as Bank of England maintained hawkish tone in today's statement. Stronger pound is also posing some challenge.
  
• FTSE is expected to move higher benefiting from foreign flows and increase in business investment.
  
• FTSE is currently trading at 7043. Immediate support lies at 6850, 6700 and resistance at 7120.

DAX -

• DAX is trading in red today, over profit booking.

• Larger trend remains upwards, however bears remain in control in shorter term. Bearish engulfing in weekly chart provided the necessary strength to bears. However bears have weaken by back to back doji and small hammer. Resistance at 11750 remains key.

• DAX is currently trading at 11660. Immediate support lies at 10550 and resistance at 11750, 12080 around.

EuroStxx50 -

• Stocks across Europe are all mixed today with CAC being the worst performer.

• Germany is down (-0.29%), France's CAC40 is down (-1.1%), Italy's FTSE MIB is flat (-0.01%) and Spain's IBEX is up (+0.3%).

• EuroStxx50 is currently trading at 3626, down -0.68% today. Support lies at 3450, 3300 and resistance at 3760

Nikkei -

• Nikkei gained as Chinese central bank eased policy over the weekend however rally faded in futures trading after the cash market close.

• With further easing from BOJ less likely, Nikkei remains at risk of larger correction.

• Nikkei is currently trading at 19630, further downside is likely should resistance 19750 holds. Price target is coming close to 17800.

• Key support is at 18900, 18400 and resistance at 19750 area.