Indian Stock Markets Today: Choppy Trend, Correction Waiting To Happen

20 March 2019 (9:12am IST)

Indian stock markets have been in a strong uptrend this month, after breaking out of a narrow range.

Nifty’s RSI is touching now 80 in the overbought region and a technical correction is waiting to happen in this index. That is why intraday volatility has increased in this leading index of Indian stock markets.


Day traders should be cautious and trade with minor support and resistance levels. These levels are given on our Pivot Trading page. For major India stock indexes, these levels are:

Expect India stock markets to trade with choppiness and swing between intraday support and resistance levels. The long term trend in strongly positive for these markets, the short term trend could turn range bound.



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World Stock Markets Today: Choppy Trend Near Monthly Resistance

20 March 2019 (8:47am IST)

19 March 2019 (11:17pm EDT)

U.S. stock markets had rallied in their opening session on Tuesday, but then, profit booking near monthly resistance levels pushed these markets down.

World stock markets have been trading in their yearly range and most of the markets are now turning choppy after many week’s rallies. The global trend is still positive, rising from last year’s bottom levels, but the short term trend will be highly volatile as markets see profit booking and range bound trading from traders.

As we know, range bound trading is defined by buying near support and selling near resistance levels, creating choppiness and short term trend reversals.

For day trading in such market conditions, small traders should pay attention to how markets moves near  support and resistance levels, is any trend reversal is signaled and then trade with those signals.

For short term intraday trading, watch support and resistance levels, or the trend line, on hourly time frames. Big trades happen in one to four hour time frames and it will be good strategy to mark levels on these time frame, then use smaller time frames (5, 15 minutes) for trade entry or exits.

At the time of writing, major Asian stock markets are trading mixed. U.S. stock futures are choppy and mostly negative and European stock futures are negative. SGX Nifty is slightly lower but range bound in its current uptrend, indicating a similar trend for Indian stock markets.

Expect world stock markets to trade with high volatility and follow a technical trend. Different markets will follow their own trend line and trading patterns.

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Indian Stock Markets Today: Rangebound, Volatile Trend

19 March 2019 (9:23 am IST)

Indian stock markets have become rangebound within last two sessions’ trading range. Especailly Nifty is now trading between 11,530- 11,400 marks.

We had written yesterday that Nifty has a resistance near 11,530 mark and the index turned lower from that resistance. Day traders can expect this index to trade with choppiness within its new range till overbought RSI levels on daily charts cool down to attract bulls again.

Nifty’s broader range can be identified with daily pivot levels. We have provided these levels for Nifty and other major indexes on our Pivot Trading page. These levels are:

Expect Indian stock markets to remain very volatile as these markets will be closed on Thursday and weekly Options expiry will take place tomorrow. As a result, Option traders will be quick with profit bookings and the intraday trend will show choppiness.

Day traders should look for small trades and quick exits in such volatile trading conditions. Major Indian stock indexes could remain confined in narrow range this week. We’ll have to wait till next week for these markets to take any bigger trend.

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World Stock Markets Today: Choppy, Narrow Range Bound Trend

19 March 2019 (9:14 am IST)

18 March 2019 (11:43 pm EDT)

Global stock markets have turned narrowly range bound this week. Such type of trend is characterize with high volatility and choppiness, which is dominating world stock markets now.

Today’s opening trend is mostly negative in Asian stock markets. U.S. and European stock futures are also trading with small gains and choppiness. Indian stock markets have opened positive, but staying within their previous range.

Expect world stock markets to remain volatile and range bound in today’s session. Different indexes will trade based on their individual technical signals.

Day traders should trade with the technical trend in their local markets and be alert about quick changes in the intraday trend.

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US Stock Markets Today: Choppy, Range Bound Trend

18 March 2019 (9:10am EDT)

U.S. stock futures are trading with weakness, especially Dow Jones futures. This indicates that U.S. stock markets will start their new week within the trading range of last week.

For Dow Jones, the immediate trading range will be between high and low marks of the last candlestick on 5-hours charts. That was a breakout candlestick for the index and it will define the short term support and resistance levels for this index.

For a broader trading range in Dow Jones and other major indexes, check support and resistance levels given on our Pivot Trading page. These levels are:

Expect a choppy intraday trend in US stock markets in this opening session of the week. As we have been writing from time to time, the best way to day trade is knowing the weekly and monthly trend and then follow the trading strategy suitable to that type of trend.

At this hour, it looks that U.S. stock markets will be range bound. So, watch short term support and resistance levels and trade with the short term trend within those levels.

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Indian Stock Markets Today: Surging Ahead to Break Last Year’s Range

18 March 2019 (9:34 am IST)

Indian stock markets are enjoying their usual pre-election rally, Bank Nifty has already broken out of its yearly range last week, and now, Nifty is trying to catch and cross above its previous record high level.

Last Friday, Nifty and broader markets had a huge rally and then saw some profit booking in the closing hour. But today, Indian stock markets have opened higher to recover that drop of the final hour.

In technical charts, Nifty has s minor resistance near 11,530. Today’s early trading is indicating a support near 11,500. So, this will be its initial trading range. Day traders should look to buy at dips and the long term trend has become very strong in these markets. Only some negative news can now stop or reverse this trend.

As we wrote previously, such strong trends are good for positional trading and taking long positions when markets correct, can bring good for positional or swing traders too.

You can find bigger range levels for major indexes on our Pivot Trading page. These levels are:

Indian stock markets have started this daily and week’s first session with a gap up opening, so the current uptrend is intact in these markets. Markets may turn choppy if global cues change later in the day. So, day traders should follow the uptrend but keep stop loss in all their trades.

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World Stock Markets Today: Last Week’s Uptrend Continues

18 March 2019 (9:12 am IST)

17 March 2019 (11:42 pm EDT)

World stock markets have mostly started this new week with positive numbers, continuing their last week’s uptrend.

All major Asian stock markets are trading positive at the time of writing. U.S. stock futures have turned green but trading with single digit gains. European futures are mixed and almost flat too. Indian stock markets have opened with positive numbers but staying withing last session’s high range.

Overall, the opening trend seems positive but choppy in global stocks. That means day traders should wait and cautiously watch how the daily and weekly trend unfolds in their local markets. Then follow the short term trend for day trading and long term trend for positional or swing trading.

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US Stock Markets Today: Positive Weekly Trend Continues

15 March 2019 (8:46am EDT)

U.S. stock futures are rallying before the opening bell o this last session of the week. That means this week’s positive trend is intact but the trading range will be different for major indexes.

Dow Jones futures are up by more than 100 points at this time. Still, the index will remain within last week’s trading range. Nasdaq has broken out of its weekly and monthly range so this tech index will have a clear uptrend.

Day trading range can be anticipated with intra day pivot level, provided on our Pivot Trading page. For major indexes, these levels are:

Expect U.S. stock markets to trade with a positive bias. Technical supports are stronger. Only a negative news can change this positive bias in U.S. stock markets.

The intraday trend can remain choppy so day traders should watch both support and resistance levels.

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Indian Stock Markets Today: Volatile Near Major Fibonacci Level

15 March 2019 (8:46am IST)

Indian stock markets are taking a breather after a steep rally, and have turned rangebound  in short time frame.

Nifty is trading close to its major Fibonacci level of 11,400. To breakout of this level, the index need to correct slightly so that its overbought RSI levels also become normal. After that, the index will again rise and try too breakout of this technical resistance.

Day traders can take help of intraday pivot levels, given on our Pivot Trading page, to check the support and resistance levels of major indexes. These levels are:

Expect Indian stock markets to trade with high volatility till Nifty breaks out above 11,400 mark. Till then, this index and broader markets may turn rangebound.

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World Stock Markets Today: Positive Start, Choppy Session

15 March 2019 (8:46 am IST)

14 March 2019 (11:16 pm EDT)

U.S. stock markets had a mixed closing in their overnight session with a narrow trading range. But U.S. stock futures are trading with good gains in early Asia session. That has given a boost to world stock markets too.

All major Asian stock markets are trading positive in early hours. SGX Nifty is slightly higher but range bound, hinting at a similar opening for Indian stock markets. European stock futures are mixed.

This week, global stocks are in a technical trend, and that trend will continue in this last session of the week. The weekly trend-bias is positive so support levels are stronger on long term basis, but the short term trend may see choppiness near both support and resistance levels.

Day traders should focus on the local trend of their markets. For day trading, follow the short term trend between smaller support and resistance levels. These levels will be clear on 5-hours or 1-hour charts.

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