Indian Stock Markets Today: Waiting for a Correction

10 July 2020 (8:52 am IST)

Indian stock markets are waiting for a correction and trading range bound since the last four sessions.

As we wrote earlier, Nifty’s RSI has reached overbought zone and sooner or later, this index will have to correct couple of hundred points. On the other hand, the index can go on trading in a straight line till the RSI corrects. Once the RSI starts rising again, the price will also start climbing up.

Intraday range levels are good for trading range bound markets. We have provided such levels on our  Pivot Trading page. Here are those levels: 

Indian stock markets are expected to open negative. After that the intraday trend could be rangebound withing the previous range; or a minor correction will take place in Indian stocks.

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World Stock Markets Today: Negative Intraday Trend

10 July 2020 (8:52 am IST)

9 July 2020 (11:22 pm EDT)

World stock markets are trading negative today, after US stock markets closed negative in their overnight session and US stock futures are still trading negative.

This low sentiment of US stock markets has worried global stocks and all major Asian stock markets are trading down at this hour. SGX Nifty is also down by 60 points, indicating a negative opening for Indian stock markets.

US and European stock futures are also trading lower.

This is a global trend and day trader should take advantage of this strong negative trend. They should follow the trend line in their local markets are look for opportunities to short sell with the trend.

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Indian Stock Markets Today: Correction Possible, Nifty in Overbought Zone

9 July 2020 (8:44 am IST)

Indian stock markets traded range bound almost the whole day yesterday, then gave up and collapsed in the last trading hour.

This indicates that some technical correction could be ahead as Nifty’s RSI has reached overbought zone. This correction could be small or big (minor downtrend).

To know the intraday range levels check our  Pivot Trading page, where we have provided those levels. Check here: 

SGX Nifty is indicating a positive opening for Indian stock markets. After that, these markets will either become range bound and trade within the previous range; or continue to trade down.

Day trades must wait for markets to stabilize and let a clear trend emerge. After that, follow the trend line for day trading.

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World Stock Markets Today: Mixed, Volatile Trend

9 July 2020 (8:44 am IST)

8 July 2020 (11:14 pm EDT)

World stock markets are showing a regional, mixed trend in this session.

US stock markets closed positive in their overnight session and following that lead, all major Asian stock markets are trading positive at the time of writing.

SGX Nifty is also up by 34 points, indicating that Indian stock markets will also have a positive or flat opening.

But US and European stock futures are marginally negative, which shows volatile nature of today’s session in their sessions.

All these factors indicate a mixed and volatile intraday trend in world stock markets.

For day traders, this is another session where they should focus on their local trend but stay cautious about any sudden change in the trend due to global cues.

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Indian Stock Markets Today: Volatile, Uptrend Continues

8 July 2020 (8:36 am IST)

As we wrote yesterday, Indian stock markets had a high opening but traded range bound in the previous session.

Today, SGX Nifty is again 60 points higher, indicating a gap up opening in Nifty and broader Indian stock markets.

Usually, after a higher opening; there are always two trend possibilities for any entity; it will either trade lower and become range bound within the previous range, or continue to climb higher. Today, it seems possible that Nifty will rise higher later in the session.

For intraday trading, daily pivot levels are provided in our Pivot Trading page. Here are those levels: 

Indian stock markets have been inching higher with multiple gap up openings. Such trends are good for positional trading but day traders can also take advantage of this trend and market volatility; condition being, they wait for the right opportunity to open and exit trades.

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World Stock Markets Today: Mixed, Volatile Intraday Trend

8 July 2020 (8:23 am IST)

7 July 2020 (10:53 pm EDT)

US stock markets had a negative closing in their overnight session.

That spooked Asia markets and all major indexes in Asia markets were trading negative a few minutes ago. But positive US stock futures have given courage to buyers and now, some of the major indexes in these markets have turned positive.

At the time of writing, Asian stock markets are trading mixed. SGX Nifty is positive by 50 points, showing that Indian stock markets could again have a gap up opening.

US stock futures are positive and European stock futures are also highly positive.

This is a mixed trend in world stock markets and day traders should follow the intraday trend in their local markets. Volatility is expected to stay high so it will be prudent to trade with strict stop loss in all open positions.

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Indian Stock Markets Today: Volatile After Straight Rallies

7 July 2020 (8:30 am IST)

SGX Nifty was 50 points lower in early trade. But now, this futures index of Nifty has improved its numbers.

In the last 4 sessions, Nifty had gap up openings, but flat intraday sessions. Only yesterday this index rose like a straight line and added to its opening gains.

If Nifty follows SGX Nifty, then it can open with slightly negative numbers. But as we know, Nifty and broader Indian stock markets are in an uptrend, any dip can attract buyers and take the index further up. Therefore, day traders should wait and watch the intraday trend and trade only with the trend, without bothering to get into any speculation.

Intraday range levels are available on our Pivot Trading page. For major stock indexes, these levels are: 

Indian stock markets are expected to have a slightly weaker opening. After that, the trend could stay within the previous range or turn higher again. After the last 4 sessions’ straight rallies, the trading pattern could turn volatile today.

For day trading, traders must wait and watch what kind of trend develops and then, follow that trend for day trading.

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World Stock Markets Today: Mixed, Choppy Session

7 July 2020 (8:16 am IST)

6 July 2020 (10:45 pm EDT)

US stock markets had another rally in their overnight session. But this morning in Asia, US stock futures are trading negative. Only Nasdaq futures are marginally positive.

European stock futures are also negative.

Major Asian markets are trading mixed. Shanghai index is jumping up for the second consecutive day this week, as the China government encourages its citizens to buy stocks.

SGX Nifty is 50 points lower after 4 straight days’ gap up openings. This shows that Indian stock markets could also open flat or slightly lower.

This is a mixed and choppy session in world stock markets. There are different trends based on local sentiments. For day trading, it is better to focus on the local trend and trade with caution.

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Indian Stock Markets Today: Positive Trend Continues on Global Cues

6 July 2020 (8:33 am IST)

Like a snail, Indian stock markets; especially Nifty 50 index, have been inching up in a positive trend for many weeks now.

Today, SGX Nifty is indicating that Nifty could open 100 points higher and we can expect a gap up opening in broader Indian stock markets.

Last week, Nifty had close at 10,600; above its Fibonacci resistance of 10,550. Now we can expect this index to go higher from here. Will that happen today after a gap up opening? That, we need to wait and watch.

Intraday pivot levels are given on our Pivot Trading page. These levels are: 

Indian stock markets are expected to open higher on positive global cues. After the initial volatility, these markets are expected to continue with the uptrend. Markets can still be volatile so day traders should trade cautiously.

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World Stock Markets Today : Jump Start of the Week

6 July 2020 (8:13 am IST)

5 July 2020 (10:39 pm EDT)

World stock markets are celebrating last week’s bumper payroll reports from the US economy and soaring high in the early trading of this first session of a new week.

US stock markets were closed for their Independence Day on Friday last. But today, US stock futures are rallying on almost double growth in the numbers of Non Farm Payroll data and drop in the Unemployment rate, released last Thursday.

Today, all major Asian stock markets are rallying, following the jump in US stock futures. Nasdaq futures are more than 100 points up at this hour. Dow Jones futures are 250 points higher. European stock futures are also highly positive.

SGX Nifty is more than 100 points high, showing that Indian stock markets will also have a high opening today.

We have a single, positive trend in world stock markets today. Day traders should take advantage of this trend and trade with the trend line.

 

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