29 May 2020 (8:10 am IST)
Indian stock markets have been enjoying a minor uptrend in the past two sessions.
Will the US-China tension will subdue that trend? That we will see only after Indian stock markets ring their opening bell.
SGX Nifty has recovered some of its losses and is now only 15 points lower. This shows that Indian stock markets may continue to find support at least in the first half of today’s trading session. The closing hour may turn volatile if big traders decide to book profits before the weekend.
We have given intraday pivot range levels on our Pivot Trading page. For major indexes, these levels are:
Indian stock markets are expected to open flat. If these markets ignore global cues, then the previous positive trend will continue in Nifty and broader stock markets. If not, then we could see a sideways trend in these markets within the previous range.
29 May 2020 (7:52 am IST)
28 May 2020 (10:22 pm EDT)
US stock markets lost their gains and tumbled down in the closing 15 minutes of their overnight session, when the news broke that president Donald Trump “will address a press conference on China on Friday.” The subject of the press conference has not been disclosed.
Following that negative closing in US stock markets, almost all major Asian stock markets are trading negative in today’s session. SGX Nifty is also 30 points lower, indicating a negative or flat opening in Indian stock markets.
US and European stock futures are trading negative in their early trading hours, which will keep pressure on world stock markets.
For day trading, the best trading strategy will be to follow the local trend and trade cautiously.
28 May 2020 (8:00 am IST)
After a very long sideways trend, Indian stock markets had a breakout rally yesterday, where Bank Nifty gained more than 1,200 points and Nifty climbed up like crazy, gaining nearly 300 points after the opening hour’s downtrend.
Nifty closed near day’s high level, which is a very positive signal. SGX Nifty is trading near previous high, which again indicates buyers’ support. We can expect a higher opening in Indian stock markets, but after that, the trend will depend on Nifty.
Today intraday range levels are provided on our Pivot Trading page. These levels are:
Indian stock markets are expected to open higher. That can help Nifty break out of its trading range. If that happens, then we can expect this index to continue the rally in near future.
28 May 2020 (7:50 am IST)
27 May 2020 (10:20 pm EDT)
US stock markets had another day of big gains in their overnight session. Dow Jones gained more than 500 points. In the last two sessions, this mega index has staged two gap up openings and has broken out of its range. That shows that buyers’ support is getting stronger.
This fact has supported world stock markets too and almost all major Asian stock markets are trading positive in early hours of this session. Only Hong Kong markets have now dipped in the red, otherwise, earlier these markets were also positive with other Asian markets.
SGX Nifty had rallied yesterday with Indian stock markets. Today, this futures index on India’s Nifty is trading up by 40 points, indicating a continuation of the previous rally.
US and European stock futures are trading positive at this hour, encouraging a green session in world stock markets today.
For day trading, traders should pay attention to the support levels and use long positions with the trend line for earning profits.
27 May 2020 (8:06 am IST)
Indian stock markets started this week with a bigger negative trend yesterday.
Although Nifty shows a slide of only 10 points, but the candlestick chart shows almost 160 points drop from day’s high to low for this index.
The weekly chart also looks trading down and today, SGX Nifty is not showing any positive indications.
In such conditions, we can expect Nifty and broader markets to trade under pressure and within the last week’s range.
Day traders can find intraday range levels for major stock indexes on our Pivot Trading page. Here are those levels:
Indian stock markets are expected to open flat, but trade under pressure. These markets have been trading in a narrow range since the last week and that range is expected to continue till the lower markets is take out.
27 May 2020 (7:50 am IST)
26 May 2020 (10:19 pm EDT)
US stock markets had a healthy rally, where Dow Jones was the biggest gainer with going up with 529 points.
Despite that, Asia markets are trading mixed at the hour of writing.
SGX Nifty is also flat, waiting and leaving the decision to Indian stock markets to choose the intraday trend. Overall trend is so range bound that the daily charts show almost a flat line for these markets.
US and European stock futures are also trading with only small gains, close to the red line.
All these factors indicate a range bound and volatile session for world stock markets. World stock markets are apprehensive if the opening of global economies is right, or if it is too early in the wake of coronavirus threat.
Day traders should focus on the local trend and trade cautiously. These sideways trends are not good for too many trades and it would be better to make only one trade in a day.
26 May 2020 (7:28 am IST)
Like global markets, Indian stock markets have also been trading in a horizontal line, trading range bound with high volatility.
Today also, a similar sideways trend is expected in these markets.
We have given intraday pivot (range) levels of major stock indexes on our Pivot Trading page. Check out those levels here:
SGX Nifty is indicating a positive opening for Indian markets, but after that, the intraday trend is expected to stay range bound. Nifty had traded in a small range last week, we can expect this major indexes to trade within the same range.
Indian stock will wait for the GDP numbers (QnQ) on Friday. That can also keep these markets range bound and volatile. The current set up is not good enough for day trading and can cause over trading. Day traders must remain alert to avoid that money-eating mistake and trade only once of twice in a session. Wait for a good trade set-up and only trade for short duration.
26 May 2020 (7:28 am IST)
25 May 2020 (9:58 pm EDT)
World stock markets are starting the new, and short week with their full strength and in positive area today.
On Monday, India and Singapore markets were closed in the eastern hemisphere while the UK and US markets were closed in the western hemisphere. That kept volumes thin and trend mixed.
Today. its a positive start in Asia session and traders from all markets are ready to jump in the trading range.
At the time of writing, all major markets are trading positive in Asia. SGX Nifty is also higher by more than 60 points, hinting at a positive opening in Indian stock markets too.
US and European stock futures are also positive at this hour. US futures are up by more than 1%. Dow Jones futures are 300 points high.
This is a good start to the week. Now day traders will have to see how this positive start develops through the session. If the trend continues to be positive then using the trend line will be a good trading strategy. If markets become sideways then horizontal support and resistance levels will be more useful.
22 May 2020 (7:53 am IST)
Indian stock markets had been trading in a small range for many sessions.
Yesterday, these markets had weekly Options expiry of Nifty and Bank Nifty, and Nifty traded with high volatility in a very small range. Like the toe-nail of an ant!
Hopefully, today this main index of Indian stock markets will trade in a bigger range. Right now, this index is restricted in a range of 9,200- 8,800.
We have provided intraday trading range levels on our Pivot Trading page. Day traders can use these levels for day trading. These levels are:
Indian stock markets are expected to open with weak numbers. After that, the trend will stay within the weekly range and trade with high volatility. The direction of the trend can change multiple time through the sessions since it will be sideways trend.
22 May 2020 (7:39 am IST)
21 May 2020 (10:09 pm EDT)
This week, world stock markets have been trading negative and positive on alternate days, with a choppy trading pattern. Today, these markets are trading negative.
US stock markets had a negative closing in their overnight session. US stock futures are still showing weakness, dipping in the red zone.
World stock markets are taking cues from this weakness and are trading mostly negative. All major Asian stock markets are in the red at this hour. SGX Nifty is more than 30 points down, indicating a weak opening for Indian stock markets.
US and European stock futures have started increasing their losses, showing that this session will be negative.
For day trading strategies, small traders should wait for some small recovery in the downtrend, and then take a short position with the trend. As we wrote previously, this kind of sideways weekly trend is not good for taking overnight positions, only intraday, short term positions are good for trading.