Indian Stock Markets Today: Stuck Between Support And Resistance

10 December 2019 (8:49 am IST)

Indian stock markets traded in a thin range yesterday because major indexes are stuck between major support and resistance levels.

Nifty has a major resistance near 11,980, where it faces 20-Day Moving Average on daily charts. At the same time, the index has major support near 11,888. So the index is trading in this 100 points’ range and is expected to stay range bound until the upper or lower level is broken.

For day trading, you can use pivot levels given on our Pivot Trading page. These levels are: 

Expect Indian stock markets to trade in a range. The downside is bad economic reports and the upside is rumors of government action to provide relief to the business community. 

Watch the charts and trade with the technical indicators. Those are the most reliable tools for day trading instead of any news or rumor. 

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World Stock Markets Today: Broad Range bound Trend

10 December 2019 (8:49 am IST)

9 December 2019, (10:19 pm EST)

First thing, if you want to succeed in day trading, then stop reading news and watching TV. Media is a tool of fear-mongering and currently, when global stock markets; particularly US stocks are in an amazing uptrend, you will only see negative news reports that scare you and trap you in short positions while markets continue to rise.

Look at the charts. What do you see? An uptrend, where the price pauses from time to time, turning range bound or trading in a minor downtrend to gather strength and starts uptrend again.

The same thing is happening again. After the last two sessions’ rally, global stocks are losing steam and in Asia, major stock markets are trading negative while US and European stock futures are trading with minor gains. SGX Nifty is flat, continuing its sideways trend and waiting for Indian stock markets to open and decide on a minor trend.

US stock markets have created a minor range after falling form their record high levels and then bouncing back again. For the time being, we can expect a sideways trend in these markets until major indexes rise again and break out of their previous high. Global stocks may follow that trend.

The best day trading strategy will be to watch your local index, give it half an hour after the opening bell to create an intraday trading range, the trade with the short term trend whether it goes up or down, watching how it behaves near support and resistance level.

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Indian Stock Markets Today: Range bound in Weekly Range

6 December 2019 (8:48 am IST)

Indian stock markets have been mostly range bound within their last week’s broad range and have made a smaller weekly range this week. 

Last Friday and Monday saw Nifty trading in an identical range, where the index opened high and closed low. After that, the last three sessions have also been range bound within the same support and resistance levels. Yesterday, the index closed negative and today, SGX Nifty is indicating a positive opening. That means the range bound trend will continue for this index.

Yesterday’s RBI policy declaration brought new worries for Indian stocks as the central bank cut its growth forecast and did not go for a rate cut as markets were expecting. That could put pressure on these markets. BUT- we know these markets are highly manipulated so traders must not assume that markets will fall, and strictly trade with the trend.

We have provided pivot levels on our Pivot Trading page for day trading. These levels are: 

Indian stocks are expected to trade sideways within the last week’s trading range. Markets may remain highly volatile. 

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World Stock Markets Today: Positive Within the Weekly Range

6 December 2019 (8:48 am IST)

5 December 2019, (10:17 pm EST)

US stock markets have created a new, short trading range within their broader range and the world stock markets are also trading in the same way.

Here is the trick on how to know the small and broad trading range of markets: open 5-hour charts and draw horizontal support and resistance lines. You will find that the price has been moving up and down within the same support and resistance levels. This will help you understand when a minor uptrend or a minor downtrend starts or ends.

At the time of writing, most of the major Asian stock markets are trading positive. US and European stock futures are positive and SGX Nifty is trading with some gains, indicating a positive opening for the Indian stock markets.

Day traders should watch both support and resistance levels and trade with the minor trend within these levels. Markets could remain highly volatile which is the usual feature of range bound, markets.

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Indian Stock Markets Today: Range bound in Weekly Range

4 December 2019 (8:46 am IST)

Indian stock markets are trading within their last week’s range, and showing a trading pattern of staying within major support and resistance levels.

Nifty has made a pattern of “opening high, closing low” in the last three sessions. In the first two sessions of these 3, the index opened near 12,150 and closed near 12,050; creating identical candlesticks. Yesterday, the index again opened higher and closed lower between 12,068 and 11,994.

Nifty bounced back from its major support of 11,962 in the closing hours of the previous session. Day traders should watch this level for further support. If Nifty continues to find support near 11,960- 11,950. This level is important because on daily charts also, Nifty is finding 9-Day’s Moving Average support. Nifty will fall further if this support is broken. If the support holds, then we can expect Nifty to remain range bound within the last three session’s high and low levels.

SGX Nifty is indicating a lower opening in Indian stock markets today. Day traders should wait and watch how markets behave in the opening hour and once a day’s high and day’s low has been established, trade with the short term trend in whichever direction it goes.

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World Stock Markets Today : Negative Start on Trade Deal Worries

3 December 2019, (10:15 pm EST)

4 December 2019 (8:46 am IST)

World stock markets have opened this session with negative numbers in the Asia session.

At the time of writing, all major Asian stock markets are down by 1%. Only the Shanghai Index is showing lesser losses. SGX Nifty is down by -33 points, indicating a negative opening for Indian stock markets.
As you all know, this drop is triggered by a lower closing in US stock markets in their overnight session, when all major indexes closed with -1% losses. US stock markets have turned negative after indications that the US-China trade deal will be finalized only after the 2020 Presidential elections.

But, looking at the candlestick chart of Dow Jones, the index has made a sideways pattern in its 5-hour chart. So now, we can expect this mega index to trade within this new range of 27,500- 27,400.

The global trend will depend on how US stock futures trade in this session. Right now, these futures are moving between slight positive to minor negative numbers.

For day trading, it will be better to watch both support and resistance levels and trade with the short term trend within these levels. If support levels become stronger, then we will see a range bound trend within this week’s high and low numbers. Otherwise, the weekly downtrend will continue.

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Indian Stock Markets Today: Rally and A Range Breakout with Global Stocks

26 November 2019 ( 8:47 am IST)

Indian stock markets bounced back from their support levels yesterday, and continued with a huge rally  to break out from their previous range resistance levels.


Today also, SGX Nifty is trading with good gains, indicating another higher opening for Indian stock markets.  Yesterday’s closing should provide a support to major indexes and day traders should wait and watch this support level in early trading.  After a gap up opening, usually some cooling down happens when markets indicate if they are going to climb up in a trend, or turn range bound. A trend line can be used to see this. 

Indian stock markets may remain range bound till the Supreme Court’s decision about the Maharashtra political crisis At 10:30 a.m. later today. Or, these markets will follow the global cues and continue with their previous uptrend. If major indexes trade below their previous closing, the trend will remain range bound.

For day trading, use intraday support and resistance levels given on our  Pivot trading page.  These levels are: 

Indian stock markets are expected to continue with their previous rally,  if nothing goes wrong. Day traders should wait and watch how the intraday trade develops. Any bounce after a dip will confirm the uptrend. If major indexes turn negative, it will be a sideways trend for these markets, within the previous trading range.



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World Stock Markets Today: Previous Rally Continues

26 November 2019 ( 8:47 am IST)

25 November 2019 (10:17 pm EST)

Yesterday, world stock markets enjoyed a huge rally. Today, global stocks are continuing with that rally.

At the time of writing, all major Asian stock markets are trading with positive numbers. SGX Nifty is also trading with 30 points’ gains after yesterday’s huge rally. US and European stock futures are also trading positive.

US stock markets have been in a new uptrend ever since Dow Jones broke out of its yearly range. Only a negative news about the US-China trade deal can bring this index down now, otherwise we expect Dow Jones to reach 30,000 in 2020, or before.

We had written earlier also, world stock markets are in an uptrend, and in-between, the trend will keep turning range bound when markets pause for a breath. For day trading, remember this pattern and trade with the technical signals for a positive trend or a sideways trend based on how markets behave in the short term.

Right now, markets are rising again after taking a breather last week. That means, it will be ‘buy on dips’ trading strategy for day trading.

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Indian Stock Markets Today: Volatile, Range bound Trading Pattern

25 November 2019 ( 9:06 am IST)

Indian stock markets are trading within a broad trading range. Indian stocks  keep having minor up and down trends within this range. In the last few sessions, we have seen a minor downtrend within this range. Day traders should now watch support levels  to see if major indexes stop here, or the downtrend continues.

Nifty has major support at 11, 900. It is expected that the index will become range bound near this level.  We have provided intraday range levels on our Pivot trading page.  These levels are: 

Expect Indian stock markets to trade within the last session’s trading range.  Markets may remain volatile as major indexes will roam between support and resistance levels. Day traders should use trading strategies for range bound trend, and trade with technical signals.

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World Stock Markets Today: Positive Start, Range bound Trend

25 November 2019 ( 9:06 am IST)

24 November 2019 (10:35 pm EST)

World stock markets have started this new week with positive numbers.

At the time of writing, all major Asian stock markets are trading with green numbers. SGX Nifty is also slightly positive. US and European stock futures are trading with considerable gain, indicating that the last session’s positive trend will continue in these markets.

US stock market had closed positive in their closing session of the last week. If you look at the chart of Dow Jones, you can see three red candlesticks, then a 4th positive candle creating a new small range. Today’s higher US futures indicate that the 5th candlestick will also be positive and within the range of the last week’s high and low levels.

The overall trend is positive in world stock markets. What we are seeing is, a small sideways trading pattern where minor up and down trends will keep stock markets range bound. For day trading, use technical signals and trade within major support and resistance levels in this sideways trend.

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