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DAX gains 0.20%

FXStreet (Mumbai) - The German blue-chip index, Dax, inched slightly higher tracking the strength in the US Equity markets, which ended higher for the third-consecutive week.

Dax is trading 0.21% higher at 9311.00 levels, compared to the previous session’s close of 9291.83. The index breadth is positive with an advance decline ratio of 25:5. Among the index gainers, are shares in the German Chemical producer, Lanxess AG, which are up 2.00%, after the company’s net income skyrocketed threefold in the third quarter of 2014, from a year earlier quarter. Other gainers include stocks like K&S AG, Fresenius ST, Lufthansa AG and Heidelbergcement AG. On the other hand, the gains in the index are being capped by Commerzbank AG, which is down 1.91%.

Meanwhile, the stock markets are likely to stay flat ahead of the European Central Bank (ECB) bond buying results for the last week.

DAX Technical levels

The index has an immediate resistance at 9369, above which it can rise to 9414 levels. On the flip side, the index may fall to 9151, if the immediate support at 9222 levels is breached.

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