US Markets Today: Volatile, Range Bound Session

17 November 2017 (9:20 AM EST)

After a big rally yesterday, US markets look ready to take a pause in today’s session.

Dow Jones futures are trading much lower, but other index futures are mixed and almost flat. That indicates that we may see a similarly mixed and volatile trading patterns in major U.S. indexes today.

U.S. markets are torn between a negative and a positive factor. Progress on tax reforms bill is giving hope to markets and at the same time, developments in the Russia collusion investigation, by the DOJ special counsel Robert Mueller, is a cause of worry for markets.

Overall, we can expect major U.S. indexes to trade within their previous range. That means, intra day traders should  watch support and resistance levels for trading.

Give markets time to settle after the opening bell and wait for the creation of day’s first high and low marks. After that, whichever level is breached first, trade in the same direction with the short term trend.

Good luck, enjoy the session!

Posted in U.S. Markets | Leave a comment

India Markets Today: Jump in Rupee, Ratings Improve Sentiment

17 November 2017 (9:06 AM IST)

Indian rupee and SGX Nifty have jumped up after the rating agency Moody’s increased India’s rating to “stable”.

Bank Nifty is expected to react with bigger jump and gain more in its current trend while Nifty is facing technical resistance near 10,300.

If Nifty can sustain above this technical level, which happens to be its 20-Day Moving Average, then we can expect a return to its previous uptrend.

This development proves that you do not have to watch news, but just watch what markets are doing and you can anticipate what is going to happen. In last many sessions, in spite of many negative factors, Bank Nifty refused to fall below its major support while Nifty kept falling, even global markets kept falling. Now you know why market whales were supporting Bank Nifty. This support was clearly visible on technical charts and those who followed the trend in Bank Nifty, and even Nifty, which staged a technical bounce back yesterday, will benefit a lot today.

These are Nifty’s intra day levels- Pivot is at 10,195. Support levels are near 10158-10102-10065 and resistance is expected near 10251-10288-10344.

After a gap up  opening, markets can either turn sideways or continue to climb up.

Watch the dominating trend and follow it.

Good luck, enjoy the session!

Posted in Indian Markets | Leave a comment

World Markets Today: Positive Within Previous Range, Choppy

17 November 2017 (8:54 AM IST)

16 November 2017 (10:27 PM EST)

U.S. markets jumped up in their overnight session, recovering at least one week’s losses, but still remaining range bound after positive news filtered in about the ambitious U.S. tax reforms.

Asia markerts had already turned positive yesterday on a technical bounce back and today, that positive uptick in continuing in most of the major Asian markets. Only China is negative. SGX Nifty is trading with big gains after rating improvement of India, indicating gap up opening in those markets.

U.S. stock futures are slightly negative, which is not unusually after previous big rally. But, European futures are trading negate, which is worrisome at this points. European markets are expected to follow the rally in U.S. markets but if that does not happen, then European sellers will continue to dominate their markets like previous many sessions.

Overall, global stocks are going up and down within a broad range. So watch the major support and resistance levels in your local index and follow the short term trend.

Good luck, enjoy the session!

Posted in Share Markets Today | Leave a comment

US Markets Today: Volatile, Range Bound Session

16 November 2017 (8:54 AM EST)

After yesterday’s fall, U.S. markets are in danger of starting a negative trend.

Major indexes have fallen much below their 20-Day Moving Averages and now, that would act as an important resistance, which comes near previous session’s opening levels.

Even though U.S. stock futures are trading highly positive, unless major indexes  start trading above yesterday’s opening level, the trend will remain subdued and sellers will have the upper hand.

For Dow Jones, 23,350 will now become a major resistance. Its current support is near 23,250 so this span of 100 points will be today’s immediate trading range for the index.

As written earlier, European markets are taking a breather today after a string of negative sessions. U.S. markets are also expected to enjoy a technical bounce back after yesterday’s highly negative session. But, it is unclear how strong this bounce back will be.

Traders should wait and watch till markets develop day’s fist high and low levels, then  whichever level is taken out first, trade in that direction with the short term trend.

Good luck, enjoy the session!

Posted in U.S. Markets | Tagged , , , , , , | Leave a comment

India Markets Today: Volatile, Range Bound Session

16 November 2017 (8:47 AM IST)

SGX Nifty has gained 24 points after initial choppy movement. This indicates that Nifty may find some technical support at current levels after many negative sessions.

But it is uncertain how long that support will hold. Bank Nifty has been quite strong even though rupee and other Indian indexes have been falling. Today, it will be weekly Options expiration in Bank Nifty so the trend can go either side.

Nifty has given up its recent breakout gains and is now back below its major, previous resistance level of 10,200. This means, Nifty now has two broad ranges. The upper trading range is between 10,500-10,200 and the lower range is between 10,200- 9700.

If Nifty fails to go back above 10,200 then it will proceed to trade in the lower range, which looks more possible going by the weak global sentiments.

However, if for any reason, Nifty recovers and agin starts trading above 10,200 then it will agains try to trade in the upper range.

For intra day trading, Nifty pivot is at 10,129. Resistance levels will be near 10,164-10,210-10,245. Support is expected near 10,082-10,047-10,001 marks.

Expect a volatile and sideways trading pattern within previous support and resistance levels in these markets.

Good luck, enjoy the session!

Posted in Indian Markets | Tagged , , , , , , | Leave a comment

World Markets Today: Choppy and Mixed Trend Continue

16 November 2017 (8:35 AM IST)

15 November 2017 (10:09 PM EST)

U.S. markets closed highly negative in their overnight session on local political issues. surprisingly, S&P500 fell and closed much below its 20 -Day Moving Average, which indicates a breach in the trend line.

European markets have also been having a continuous negative trend on their own regional worries and DAX, the main German index, has now fallen just below its previous range level of 13,000. The index has fallen nearly 600 points since last week, thus wiping put the previous breakout gains and turning that breakout into what is called technically a “fake out.”

However, Asia markets are mostly trading positive, basically on. technical bounce after recent fall. Similarly, U.S. and European stock futures are slightly positive in this early trading, indicating a technical support at this point. It may or may not convert into a range bound (positive) session later in the day.

SGX Nifty is also flat, indicating a flat opening for India markets later today.

Expect global stocks to trade in a choppy manner. The intra day trend may remain mixed and range bound. Overall trend looks weak in current situation.

Good luck, enjoy the session!

Posted in Share Markets Today | Tagged , , , , , | Leave a comment

US Markets Today: Lower Opening, Choppy Trend

15 November 2017 (9:00 AM EST)

Highly negative stock futures are indicating a lower opening in U.S. markets today. But after that, we will have to watch for any support coming in at those levels.

As we have seen in past few sessions, major U.S. indexes drop in early trading and then recover from lower support levels to close with minor losses or even flat.

At the time of writing, Dow Jones futures are down by more than -100 points. If the index does open with equal losses, then it will open somewhere near its previous low and major support of 23,300. If it bounces back from that support, then its current trading range will remain intact.

However, if Dow Jones closes below that support, then it will breach this currency range and move towards a next lower support zone of 23,200- 23150.

If, major indexes open with better numbers than current futures declining levels, then again, U.S. markets will remain range bound and last two week’s trading range will continue to remain effective.

give markets time to settle after initial opening volatility, then trade with the trend, which can become sideways or turn lower.

Good luck, enjoy the session!

Posted in U.S. Markets | Tagged , , , , | Leave a comment

India Markets Today: Choppy, Volatile Range bound Trend

15 November 2017 (8:46 AM IST)

Couple of months ago, Nifty was trading up and Bank Nifty was range bound. Now the pattern has reversed for these major Indian indexes; Nifty is trading down and Bank Nifty is still range bound, but at a higher level.

As written previously, Nifty has fallen below its 20-Day Moving Average so now, it will find next support near its 50-Day MA, near 10,130.

SGX Nifty is trading nearly 30 points lower in early trade and if Nifty follows that loss, then it will open near its support level of 10,150. After that, the index can turn range bound if buying support comes and stabilizes its trading pattern. On the other hand, negative global sentiments can push Nifty further down.

Indian rupee is also trading down against dollar, now half way near to the mark of 66, which is expected go increase pressure on broader India markets.

But still, India markets are known to defy logic and trade of speculation. So watch how the trend develops and strictly follow that trend.

Nifty has intra day pivot at 10,203. Support is expected near lower levels of 10,158-10,130-10,086 while resistance levels are 10,231-10,275-10,303.

Watch these levels and trade with the intra day trend within these marks.

Good luck, enjoy the session!

 

Posted in Indian Markets | Tagged , , , , , , | Leave a comment

World Markets Today: Under Pressure As Big Markets Stumble

15 November 2017 (8:39 AM IST)

14 November 2017 (10:10 PM EST)

U.S. and European markets have been trading under pressure recently, and that pressure is reflecting on global markets in this session.

After a negative close in U.S. markets overnight, all major Asia markets are trading negative in early session. SGX Nifty is down, indicating a lower opening in India markets today and futures of major U.S., European indexes are also highly negative at the time of writing, indicating that the current negative sentiment is dominating those markets too.

Expect global markets to trade in a subdued manner. Although U.S. markets are still within a range, the uptrend has stalled and major indexes have been touching down lower support levels in intra day trading.

That creates two trend-possibiltles in this session in various markets; either a continuous lower trend, or a sideways trading pattern within previous support and resistance levels.

Watch the intra day trend in your local markets and trade accordingly.

Good luck, enjoy the session!

Posted in Share Markets Today | Leave a comment

US MarketS Today: Set for Another Choppy Session, Uncertain Trend

14 November 2017 (8:53 AM EST)

Like many previous sessions, U.S. stock futures are trading considerably negative before the opening bell.

And just we have seen in those sessions, U.S. markets can trade either range bound after the opening bell ( meaning markets find support at lower levels and climb up after a gap down opening) or continue to trade negative towards much lower levels.

In last three session, Dow Jones had opened lower and then climbed back to close near 23,400- 23,450 levels. This mega index had found strong support near 23,300 levels and had bounced back from that level twice, creating a sideways trading pattern between those support and resistance levels.

It can once again trade within those upper and lower levels, effectively remain gin range bound and keeping broader markets in a range too.

U.S. markets are hanging between hope (of mega tax reforms) and despair (not so good tax reforms, Donald Trump Jr getting caught conspiring with Wikileaks etc.). This will keep markets range bound until some major negative or positive news causes markets too break out of this range.

Till then, watch the support and resistance levels and trade with the short term trend within those levels.

Good luck, enjoy the session!

Posted in U.S. Markets | Tagged , , , , , , , | Leave a comment