Indian Stock Markets Today: High Open, Range bound Trend

17 September, 2021 (8:20 am IST)

Two days ago, Indian stock markets saw Nifty breaking out of its current range, and since then, this index has been rallying without a care in the world.

Today also, SGX Nifty is trading nearly 100 points up, showing another gap up opening for Indian stock markets. But a higher opening may keep Nifty rangebound at the top.

As we had started writing about Nifty at 16,000 and 17,000 levels much before Nifty reached those levels, now we are focusing on Nifty at 20,000 mark within this years. The best returns for long term investors have come this year, especially for those who believe in SIP and those who invested when Indian stock markets had tanked in March last year.

For today’s trading, day traders should wait for the opening hour and then, buy if a dip comes in Indian stocks.

How To Day Trade Nifty Today:

  1. Nifty is expected to open near 17,700 mark.
  2. Only 300 points will separate it from the 18,000 mark.
  3. Nifty will either rally to that milestone or keep opening with big gaps to reach there.
  4. Today, a high opening may keep Nifty range bound in the initial session.
  5. Like so many session before, Nifty will be good to buy at the dip for the intraday trading in this session too.

Indian stock markets are expected to open with a big jump today. Nifty is expected to touch 17,700 mark at the open. These markets and Nifty have been on a straight uptrend, that is expect to continue. The National Stock Exchange Of India (NSE) should change its motto to “Buy on the Dip” now 🙂

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World Stock Markets Today: Local Trend Dominates, Volatility Increases

17 September, 2021 (8:20 am IST)

16 September, 2021 (10:50 pm EDT)

World stock markets have spent this week trading on local cues. In this last session of the week, the same trend is continuing with high volatility across the world wide stock markets. In other words, keep your seat belts on because the global roller coaster ride will continue 🙂

US stock markets had a mixed closing in their overnight session. Dow Jones closed negative but made a ‘higher low’ trading pattern, which gives some hopes to bulls. Nasdaq closed positive. These markets are waiting for the Federal Reserve’s meeting next week, so we can expect fireworks in global stock markets until then.

In Asia, major stock markets are trading mixed. Japan, Hong Kong and South Korea markets are down while China and Australian markets are showing an intraday up trend.

SGX Nifty is rallying with almost 100 points gains after it broke out of its range this week. This shows that Indian stock markets will also open higher, and perhaps trade sideways.

How To Day Trade Today: 

  1. It is a local trend’s day, so follow the minor trend in your local stock markets.
  2. Weekly support and resistance levels will provide important turning points in the intraday trading.
  3. Watch those levels and check how the trend turns near those levels.
  4. That will be the cue to open long or short positions.
  5. Keep the day trading to a minimum today, as this happens to be the last trading session of the week.
  6. Big day traders will not be interested much in markets today but the next week may open with some big bangs. Save your trading capital for the next week.

World stock markets continue with their mixed trend on local cues. Markets are waiting for the Fed’s meeting next week. Until then, expect global stock markets to stay highly volatile.

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Indian Stock Markets Today: Nifty Stages Another Breakout, Uptrend Continues

16 September, 2021 (8:32 am IST)

Indian stock markets rallied in their previous session, and staged another breakout from their last week’s range.

This proves that Indian stock markets are continuing their uptrend in spite of the global volatility.

Today SGX nifty is showing some minor negative points, so we can expect Indian stock markets to open flat. The best trading strategy for these markets is to wait, when markets become rangebound, and buy when major indexes open above the range level, as has been happening since the last two days.

How To Day Trade Nifty Today:

  1. Nifty has been giving continuous chances to day traders of earning big profits.
  2. But these profits are coming in fits and starts, not in a continuous way.
  3. So day traders should wait for Nifty to dip to a support level, then buy long positions.
  4. Nifty has crossed 17,500 mark and now it is proceeding towards 18,000 mark.
  5. It will not be surprising if Nifty touches the 20,000 mark by the year end.
  6. Nifty had spent a long time trading below the 16,000 mark. We had written at that time; longer the range bound trend, stronger will be the breakout.
  7. That is what we are witnessing in Nifty now.
  8. So wait for Nifty to start bouncing back from the support level, then buy.
  9. Until then, just wait and watch how Nifty moves.

Indian stock markets are expected to open flat in this session. Today will be Bank Nifty and Nifty’s weekly options’ expiry session,  so markets may remain volatile and range bound in the opening session. Afterwards day traders should watch if Nifty starts climbing again? Then they can open long positions.

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World Stock Markets Today: Mixed Trend, Dow Jones Bounces Back from Support

16 September, 2021 (8:32 am IST)

15 September, 2021 (11:02 pm EDT)

Dow Jones Trend: We had discussed yesterday how Dow Jones had fallen below the 9-day, 20-day, and 100-day Moving Averages.

But in its overnight session, Dow Jones bounced back from 100-day moving average and survived this support level.

On the daily line charts, now Dow Jones is making a double bottom. If Dow Jones can move above the previous high point, it will be bouncing back towards the previous high levels.

If it falls below its 100- day Moving Average, it will proceed towards its 200-day Moving Average. Therefore day traders will have to watch how Dow Jones behaves on Thursday.

World stock markets are still trading mostly on their regional and technical factors. US stock markets have turned rangebound this week. Currency markets are showing more movement now that the big central banks are announcing their short-term monetary policies.

Asian stock markets are trading mixed on local factors.

SGX Nifty is showing minor negative numbers after yesterday’s breakout.

US stock futures are also showing single digit negative numbers.

How To Day Trade Today:

  1. For easy day trading, traders should use resistance and support levels.
  2. World stock markets are not in the mood for bigger correction even though U S stock markets have been falling recently.
  3. So, day traders should see opportunities to sell from resistance levels and buy from support levels.

World stock markets are trading mixed and the market volatility is very high. For day trading, high volatility is good if you trade with the trend. Markets are giving both buying and selling opportunities in different regions. Day traders should watch their local trend and trade with the minor support and resistance levels.

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Indian Stock Markets Today: Sideways Trend Continues with Volatility

15 September, 2021 (8:26 am IST)

Indian stock markets are continuing with their almost straight sideways trend. These markets had opened with higher numbers yesterday, but failed to sustain those levels and closed down within their current range.

Today, worldwide stock markets are trading mostly negative, but Indian stock markets, especially Nifty, are expected to continue their sideways and volatile trend.

The Indian rupee is also falling against the dollar, which may affect the banking and IT stocks.

How To Day Trade Nifty Today:

  1. Nifty is trading within its narrow, weekly trading range.
  2. For intraday trading in this index, use the weekly support and resistance levels.
  3. Although support levels are still holding in Nifty, now resistance is attracting more sellers.
  4. This can be used as the short term, intraday trading strategy.
  5. Nifty had been range bound from February till August and after one month of uptrend, in which the index broke both 16,000 and 17,000 marks, this index has now again become range bound.
  6. Day trading in Nifty is not getting much profit for day traders, but this is a test of their patience.
  7. Nifty trading is a business, it will have its own seasons.
  8. Do not treat it like a job where you go to market and start trading Nifty everyday with the opening bell. That is the sure shot of destroying your trading capital. 

Indian stock markets are expected to open flat and trade sideways like the previous many sessions. The Indian rupee is weakening against the dollar which will add to the volatility in Indian stock markets. For day trading, use tools like pivot and Fibonacci levels and trade between weekly support and resistance levels.

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World Stock Markets Today: Negative Trend Intensifies

15 September, 2021 (8:26 am IST)

14 September, 2021 (10:56 pm EDT)

World stock markets are trading mostly negative in today’s session, thanks to a highly negative closing in Dow Jones.

Dow Jones Trend Analysis: Dow Jones fell almost 300 points in its overnight session. This mega-index has fallen below the 9-days, 20-days, and 100-days Moving Averages, which is quite a negative signal. On candlestick charts, Dow Jones has made a ‘bearish engulfing’ candlestick, which is also a very negative signal. Its Fibonacci levels are showing next support at 34,400 and if this support breaks, then Dow Jones can go down to 34,100 and then 33,700 marks. There is only one support left to save this index from a clear downtrend. That is its 200-day MA and oversold RSI levels. Those are still some distance away so we can assume that Dow Jones is in the negative territory for the time being.

Asian Stock Markets: Almost all major Asian stock markets are trading negative in this session. China, Japan, Hong Kong, and Australian markets are down. Only South Korea markets are showing positive numbers.

SGX Nifty is range bound and slightly positive, indicating the continuation of a sideways trend in Indian stock markets.

The Dollar index is rising and pushing down the emerging markets’ currencies.

All these factors indicate that world stock markets are getting ready for the Federal Reserve’s monetary policy later this month.

How To Day Trade Today:

  1. US stock markets have been falling after a few range bound sessions.
  2. Technically, signals are indicating a downtrend in those leading markets.
  3. Day traders should remember that now ‘selling from high levels’ is getting stronger and ‘buying on dips’ has become weak.
  4. Global stocks are mostly negative today.
  5. US stock futures are only slightly positive.
  6. A drop in these numbers will increase the selling pressure in worldwide stock markets.
  7. For easy day trading, use technical tools like Fibonacci support and resistance levels.
  8. World stock markets are expected to trade with high volatility.

World stock markets are trading mostly negative in this session. US stock markets had a negative closing in their overnight session. World stock markets are now correcting, thinking that the Fed will start tapering its fiscal stimulus soon. For easy day trading, follow the intraday trend within horizontal support and resistance levels and the local trend.

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Indian Stock Markets Today: Sideways, Volatile Trend in Weekly Range

14 September, 2021 (8:45 am IST)

Global stock markets are struggling to find a direction, and overbought Indian stock markets are also stumbling along in a narrow range.

As we keep discussing how the major index Nifty has reached overbought zone, buyers are now sitting on the fence, waiting for a correction to come and buy on the dips. But that correction is happening only intraday, no other correction is taking place in these markets.

A strong Indian rupee  against the dollar is also supporting these markets.

How To Day Trade Nifty Today:

  1. For those, who are looking to trade in Nifty futures & options; a weekly range will show important levels.
  2. Day traders can trade between those levels and earn minor profits.
  3. In sideways or rangebound trend, day traders should be content with smaller profits and wait for the trending days, when markets will trade in an uptrend or downtrend and give day traders bigger profits.

Indian stock markets are expected to trade sideways and open with positive numbers. Day trading will stay restricted within the weekly support and resistance levels in these markets.

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World Stock Markets Today: Local Trends Dominate Global Trading

14 September, 2021 (8:28 am IST)

13 September, 2021 (10:58 pm EDT)

This is the second session of this week, and world stock markets are doing what they had been doing last week; trading on local cues.

US stock markets had a mixed closing in their overnight session. Dow Jones rallied over 200 points and changed its weekly candlestick into a green one. The mega-index is now showing support at 34,600.

US stock futures are marginally positive today, but trading with volatility, indicating that the rangebound trading pattern will continue in US stock markets.

In Asia, once again major stock markets are trading mixed on their local cues, ignoring the global situations.

SGX Nifty is 40 points up, continuing with its strictly sideways trend. This indicates that Indian stock markets will also trade in a range.

How To Day Trade Today:

  1. Day traders will have to focus extra on their local trend as there is no global trend to help them choose how to day trade.
  2. Pay attention to the RSI and price movement.
  3. If RSI is lower, near oversold regions, one can think of buying from the support.
  4. If the RSI indicator is higher, near the overbought zone, then one can short sell for smaller profits.
  5. The overall trend in world stock markets is positive, so buying from the dips will be more profitable.

World stock markets are showing a mixed trading pattern like previous few sessions. Day trading will be easy by following weekly support and resistance levels. Buy near the support and sell near the resistance in this sideways trend.

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Indian Stock Markets Today: Lower Opening, Choppy Trend; USDINR in Focus

13 September, 2021 (8:50 am IST)

Indian stock markets may open with highly negative numbers today, as SGX Nifty had fallen 80 points in the late night session with US stock markets.

The political turmoil in the Indian state of Gujrat may add to the volatile trading pattern of Indian stock markets. There has been a change in the chief minister of that state over the weekend when Indian stock market closed for a holiday. We will get to know how that change will affect Indian stock markets today.

Global cues are also mostly negative and as we have been writing, technical factors are also not favoring buyers in Indian stock markets currently.

Nifty is showing extremely overbought conditions on its daily charts and although this index traded rangebound last week this week, it may see some correction from those levels. At least on the first day of this week we would not advise traders to buy on dips.

How To Day Trade Nifty Today:

  1. Nifty is expected to open in the negative zone in this session, and going by the current trend in this index, it may start rising after the opening bell.
  2. Day traders should follow the weekly support and resistance levels for trading in Nifty, and watch those levels to see what kind of trading pattern develops in Nifty in this session.
  3. The opening hour may turn highly volatile for Nifty trading, therefore day traders should wait until a clear trend emerges in Nifty.
  4. This is the first session of the day and after the change of the chief minister in Gujrat, speculators may try to trade Nifty for smaller periods. That will increase the volatility in the index and day traders should stick to the larger timeframe for trading Nifty.

Indian stock markets are expected to open with negative numbers and trade in a volatile manner. Day trading the not easy on such days and day traders should follow money management techniques with day trading techniques. Global cues are also volatile so we can expect to see a choppy session in these stock markets.

In currency markets, the USD/INR currency pair will also stay in focus and any drop in the Indian rupee against the US Dollar will have negative impact on Indian stocks.

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World Stock Markets Today: Mixed Trend, Volatile Trading

13 September, 2021 (8:25 am IST)

12 September, 2021 (10:54 pm EDT)

World stock markets are trading in a mixed pattern today.

On Friday last, US stock markets had closed with highly negative numbers. Dow Jones had fallen 200 points again and its trend turned negative for the month, week, and day.

Although US stock futures are trading positive in the Asian session today, global stock markets are still spooked by the last week’s continuous negative trend in US stock markets.

This will be a news dominated week for US stock markets, where different type of economic data will come through every day. US stock markets are expected to react with volatility to all these numbers and we can expect a volatile trading pattern in US stocks.

At the time of writing, Asian stock markets are trading with a mixture pattern. Markets in Japan, Hong Kong, South Korea are trading negative while markets in China and Australia are trading positive.

SGX Nifty is 80 points down, mostly following the drop in US stock markets on Friday and on local political issues.

How To Day Trade Today:

  1. World stock markets are giving different signals in different markets, so day traders should follow the trend in their local market.
  2. For day trading today, it would be better to pay attention to the local trend, weekly support and resistance levels, and base your intraday trading on those level.
  3. The week is starting with the negative numbers in many markets, so it will be better to sell from resistance levels.
  4. Buying may not hold that much force in this session.

Worldwide stock markets are trading under pressure in this session. We can expect global markets to see more negative pressure when European stock markets open after a few hours. US stock futures are not giving the right picture now and in spite of positive stock futures at this hour, US stock markets can turn negative after the opening bell.

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