Indian Stock Markets Today: Intraday Trend Choppy on Global cues

20 February 2018 (8:24 AM IST)

Indian stock markets has been trading down in last few sessions, with a specific pattern of opening with highly positive numbers but closing negative.

Yesterday, major indexes Nifty and Bank Nifty had fallen with big margins but found support in the second half of the trading session, and recovered some losses before the closing bell.


However, both Nifty and Bank Nifty closed below their 100-Day Moving Average, which can now act as a resistance levels. For Nifty, 10,400 will be this resistance and for Bank Nifty, 25,350 will act a strong resistance level.

Global cues are highly volatile in this session and SGX Nifty is following that choppy trading pattern. Earlier in the session, SGX Nifty was trading with nearly -50 points’ loss, but since then, the index has recovered slightly, but still trading down, indicating a negative/flat opening in Indian stock markets today.

As we have been continuously writing, the trend in these markets is currently dominated by the banking sector index, Bank Nifty, that has been falling on PNB banking scam. Many more public sector banks are involved in this scam and it is difficult to say, how long this negative trend will continue in Bank Nifty. The index has seen highly choppy, but negative trend till now and that kind of trading pattern is expected to continue in Bank Nifty.

Nifty too has started showing weak signals. However, Nifty is still kind of range bound so day trader should pay attention to its support and resistance levels for pivot trading. You can get those levels for major stock indexes on our pivot trading page.

Nifty’s Intrady pivot mark will be at 10,390. Resistance is expected near upper levels of 10,477-10,576- 10,664 and support levels are expected near 10,290- 10,203-10,104. Nifty’s previous high and low levels were at 10,489 and 10,302 and the range within these levels will mark the immediate trading range for Nifty today. Other pivot levels will mark outer range levels.

Here are pivot levels for Nifty and other major stock indexes:

A look at how world stock markets have been trading in early session today:



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World Stock Markets Today: Volatile Trend, Low Opening as Dow Jones Futures Fall

20 February 2018 (7:16 AM IST)

19 February 2018 (8:46 PM EST)

World stock markets have started a new session in Asia with a volatile trend and mostly negative numbers, as U.S, stock futures are trading negative.

Dow Jones futures have fallen by more than -100 points in early trade. Futures of other major U.S. indexes, such as Nasdaq and S&P 500, are also trading with considerable losses in early Asia session.

All major Asian stock markets are trading with negative numbers at the time of writing. China markets are closed today for local holiday. But Japan, Australia, New Zealand, South Korea, Hong Kong- all these Asian stock markets are trading down. SGX Nifty has also turned negative, indicating a lower opening in Indian stock markets today.

European stock markets had traded lower yesterday and had a considerable negative closing. Today, European stock futures have turned negative with the global negative trend.

Expect a highly volatile intraday trend in world stock markets today, where U.S. stock futures, particularly the trend in Dow Jones futures will dominate global stock markets’ trend.

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US Futures, European Stock Markets Fall; Dow Futures Down 100 Points

19 February 2018 (10:06 AM EST)

U.S. stock markets are closed today for President’s Day holiday, but U.S. stock futures are open for trading and in last half an hour, theres had been a sudden fall in these futures.

Dow Jones futures have fallen by more than -100 points. All major European stock markets are trading negative today.

U.S. stock futures have been dominating the trend in world stock markets recently, and a major drop in these number can affect opening in Asian stock markets on Tuesday.

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Indian Stock Markets Today: Bank Nifty Breaks Support, Nifty Range Bound

19 February 2018 (8:56 AM IST)

In their last session, Indian stock markets had closed negative as Bank Nifty fell on PNB Bank scam and dragged Nifty down with itself.

SGX Nifty is range bound, waiting for a trend direction from Nifty. On technical charts, Nifty is still range bound and still trading above its 100-Day Moving average (10,380), which provides a strong support to Nifty.

But, Bank Nifty has broken this technical support of 100-Day MA and closed much below that support (25,350). This is a negative signal for Bank Nifty and if the index finds resistance near this levels, then the previous negative trend will continue in this banking sector index. Not a continuous drop, but right now, it looks like resistance levels are strengthening in Bank Nifty.

For intraday day trading inn Nifty, pivot mark will be at 10,499. Above this mark. resistance can  come near 10,565-10,678- 10,744 and support is expected near 10,386- 10,320-10,207.

In the previous session, Nifty had made a high of 10,612 and low level of 10,434 . These two levels will create the immediate trading range for Nifty.

Watch these levels and trade with the short term trend which is expected to remain choppy and range bound like previous few sessions.

You can check pivot levels of major Indian stock index on our pivot trading page; or check here:

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World Markets Today: Slow Paced, Range Bound Trend on Local Cues

19 February 2018 (8:56 AM IST)

18 February 2018 (10:26 PM EST)

Tow big stock markets, U.S. and China will remain closed on Monday so volumes are expected to see some drop and stock trading may remain slow paced and in a range bound. trend, Stock markets in Hong Kong and Canada will also remain closed today.

Other Asian stock markets are trading positive. European stock futures are also trading with gains and although U.S. stock markets will be closed, but U.S. stock future are open for trading and showing bi gains at the time of writing. SGX Nifty is moderately positive, indicating a flat/ positive opening in Indian stock markets today.

In the absence of trend setting U.S. stock markets, global stocks are expected to trade on their local cues and trade within their respective intraday support and resistance levels.  Pivot trading is usually the best trading strategy for range bound stock markets so day traders should also follow those levels and trade with the short term trend.

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US Stock Markets Today: Lower Opening, Volatile Intraday Trend

16 February 2018 (update: 1:32 PM EST)

U.S. stock markets have turned negative as news broke that the special counsel Robert Mueller has issued indictment against 13 Russian nationals for meddling in the 2016 presidential elections.

Social media sites Facebook, Twitter and Instagram have been mentioned in these indictments for having been used for spreading fraudulent propaganda during the elections. Twitter and Facebook stocks have turned with the news.

Earlier:

After trading with positive numbers through the global session, U.S. stock futures have started turning negative, indicating that U.S. stock markets may see a negative opening today.

That also means that U.S stock markets will see a range bound and quite choppy intraday trend like yesterday.

As we had written previously, U.S. stock markets are trading within a broad range and till the range support or resistance levels are breached, the trend will remain sideways. We had also mentioned that U.S. stock markets will remain closed on Monday for President’s Day holiday so some profit booking is possible in markets.

For Dow Jones, as mentioned earlier, a resistance zone exists between 25-300-25,55o marks. After yesterday’s high closing (at 25,200), the index came very close to this resistance zone and so, a negative turn in today’s stock futures are not surprising.

The immediate intraday trading range for major U.S. indexes will remain within their previous session’s high and low levels. Intraday pivot levels will create farther support and resistance levels. You can check these pivot levels for major U.S. stock indexes on our pivot trading page, or check here:

Expect U.S. stock markets to have a volatile and choppy intraday trend. The previous downtrend is still not over, at least not till Dow Jones crosses above its strong resistance of 25,550. If and when Dow Jones starts trading above that level, then we can expect this index and broader U.S. stock markets to resume their previous uptrend. Otherwise a sideways and highly volatile trading trend will continue to dominate U.S. stock markets.

Previous trend analysis of U.S. stock markets:

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Indian Stock Markets Today: Choppy, Range Bound Trend on Weak Bank Nifty

16 February 2018 (8:08 AM IST)

Although SGX Nifty is trading with healthy gains inn early session; Indian stock markets will continue to trade range bound on weakness in Bank Nifty.

This week, Nifty and broader Indian stock markets have been trading range bound as a nearly $2 billion scam in public sector bank, PNB (Punjab National Bank) has kept Bank Nifty under pressure. It seems that this scam was spreads to other banks also and that may keep the banking sector index volatile.

On technical charts, Nifty is comfortably range bound between its 50 Day and 100 Day Moving Averages. But Bank Nifty has been trading precariously close to its major support of 100-Day MA and if the index falls, and stays below this support (25,300) at any time, then that will be a negative trigger for the index.

Overall, a range bound trend is dominating Indian stock markets currently. That means markets will bounce between support and resistance levels till any of these levels are breached and then a trend will start. It remains to be seen, when that will happen and what kind of trend will develop in Indian stock markets.

Till that happens, day traders should continue to use pivot trading as the best day trading strategy. It will mean using support and resistance levels for trade entry and profit bookings.

For Nifty, intraday pivot mark will be at 10,558. Support is expected near lower levels of 10,498- 10,451-10,391 and resistance could come near 10,605-10,665- 10,712 mark. In the previous session, Nifty had traded between a high mark of 10,618 and low mark of 10,511. That range will work as Nifty’s immediate trading range today also.

You can check these pivot levels of major Indian stock indexes on our pivot trading page, or here:

Trend analysis of world stock markets today:

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World Stock Markets Today: Positive, but Subdued Opening; Choppy Trend

16 February 2018 (8:08 AM IST)

15 February 2018 (9:38 PM EST)

World stocks have opened in Asia for the last session of this week with positive but quite subdued numbers. Many stock markets are closed in Asia for the Lunar New Year holiday. In stock markets that are open for trading,  Nikkei (Japan) is trading with big gains but main indexes in Australia and New Zealand are trading with just single digit gains.

SGX Nifty is only mildly positive, indicating a positive/flat opening in Indian stock markets today. U.S. and European stock futures are positive but again, with very mild numbers.

Why global stocks are showing this subdued trading pattern even though U.S. stock markets closed with big gains in overnight session?

Because the intraday trend in U.S. stock markets was highly volatile and early in the session, major indexes had even dropped below the red line before bouncing back to rally up. Dow Jones had opened 200 points higher, then lost all those gains and fell -50 down and then went up again to close with gains of 300 points,

This kind of volatility is making global stocks jittery as markets are still spooked by last week’s extremely choppy trading pattern in U.S. stock markets.

U.S. stock futures are trading quietly in the opening trading session, indicating a range bound pattern at this hour. As the session progresses, the intraday trend in U.S. stock futures can affect the trend in global stock markets.

Still, other markets are afraid to rally up in spite of this week’s big gains in U.S. stocks and mostly, different stocks markets are expected to trade on their local cues ad remain range bound in their weekly trading range.

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US Stock Markets Today: Resistance Ahead, Volatile Trend

15 February 2018 ( 11:01 AM EST)

U.S. stock markets have turned negative, just as we had warned about the Dow Jones futures were trading 200 points higher. At the time of writing, Dow Joes has fallen by early -50 points. Other major U.S. indexes have also trued negative and most of the European indexes have also started tumbling down.

Earlier –

After trading with big gains through the global session, U.S. stock futures have started to cool down a bit, indicating a volatile intraday trend in U.S. stock markets today.

U.S. stock markets are still within a downtrend and have been enjoying a bounce back from major support levels.

The end result of this bounce back will be tested near major resistance levels and will define whether the downtrend will resume or U.S. stock markets will breakout of that short term downtrend.

Major U.S. indexes face this technical resistance near their 20-Day Moving Average. Also, this resistance is close to the levels from where this downtrend had started in U.S. stock markets.

For Dow Jones, this resistance zone is between 25, 300 to 25,500. A higher opening will take the index close to this resistance zone. Only if Dow Jones breaks out of this zone and trades above 25,500, we can assume this current downtrend to be over.

That also means, last week’s trading range has become the current range for U.S. stock markets and only a breach of his or low levels of that range will constitute a new trading range for U.S. stocks. Otherwise, these markets will continue to trade within that broad range.

U.S. stock markets will remain close on Monday for President’s Day. That may trigger some profit booking in these markets today or tomorrow.

At one point today, Dow Jones futures were up by 250 points. Some 100 points have been trimmed from those gains and Dow Jones futures are trading near 25,050, still 187 points up from previous closing.

For day trading in U.S. stock markets today, day traders should watch the opening levels and how stocks and indexes behave near their intraday support and resistance levels. If current gains continue till the opening time, then major indexes will open near their first or second intraday resistance levels. (you can find these pivot levels for major U.S. indexes on our pivot trading page). From there, U.S. stock markets will either turn range bound or climb till their higher resistance levels.

Market volatility is expected to remain high and intraday trend may turn choppy.

Weekly trend analysis of U.S. stocks markets for this week:

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Indian Stock Markets Today: Volatile Trading, Bank Nifty May Dominate Trend

15 February 2018 (8:22 AM IST)

Like yesterday, SGX Nifty is trading with big gains in early session, indicating a positive opening in Indian stock markets today.

But, the intraday trend in Indian stock markets could be dominated by Bank Nifty, just like yesterday when the index continued a fall through the session and dragged Nifty down with it.

The Indian PSU banking sector is so full of frauds and NPAs, that it can be safely said that this sector is sitting on a dynamite mountain. The latest fraud has come to light in the Punjab National Bank (PNB) where $1.8 billions were swindled in only one branch of the bank. Bank of Baroda (BoB) has already been fined millions of dollars by the Reserve Bank of South Africa for fraudulent practices. The State Bank of India, (SBI), India’s biggest PSU bank, has reported $3.6 billion higher NPAs, which were hidden and  were found in an audit by the Reserve Bank of Indian.

But, Indian stock markets are highly speculative in nature so Bank Nifty and broader Indian stock markets continue to rally when Dow Jones rallies.

Today, Bank Nifty will have its weekly Options expiration too. That can add to the volatility.

On technical charts, Bank Nifty had closed just below its 100- Day Moving Average yesterday and if the index continues to trade below its previous close, then it will be a negative  signal for the index.

However, if Bank Nifty bounces back from previous low, then the index will become range bound, just as Nifty is at this time.

Nifty is trading between its 50-Day and 100-Day Moving average and is range bound, finding more support than Bank Nifty.

So, basically, a range bound session is expected in Indian stock markets where Bank Nifty’s trend can affect Nifty, if the banking sectors trades highly negative.

Otherwise, it will be a sideways trading pattern for Nifty and broader markets where support and resistance levels will keep stocks within a strict trading range.

For Nifty, today’s pivot levels will be at 10,516. Resistance levels will be near 10,575-10,649 and 10,709. Support levels are expected near 10,441- 10,382 and 10,307.

Nifty had traded between 10,590 (high mark) and 10,456 (Low mark) yesterday, and those marks will create its immediate trading range today.

Watch those levels and trade with the short term trend.

For pivot levels of other major stock indexes, check our pivot trading page:

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