India Markets Today: Range bound Trading Pattern Continues

20 September 2017 (8:15 AM IST)

Major Indian indexes traded in a narrow range yesterday. It looks like Nifty is trying to climb up but Bank Nifty’s major resistance (25,100) is stopping Nifty and broader Indian markets from climbing higher from current levels.

Today, SGX Nifty is mildly negative, indicating at a flat opening in India markets and a trading range within this week’s high and low, which is really does not give much room to indexes to move around.

Previous session’s high and low mark in Nifty will act as its immediate trading range. A much broader range will be mark by intra day pivot levels. For Nifty, this intra day pivot marl will be at 10152 and resistance will be at higher levels of 10174- 10201- 10223. Support is expected to come near lower levels of 10125- 10103-10076.

Watch these levels and trade with the short term trend.

Good luck, enjoy the session!

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World Markets Today: Subdued, Sideways Before Fed’s Policy

20 September 2017 (8:15 AM IST)

19 September 2017 (10:46 PM EDT)

Global stocks are subdued and trading sideways in this session, waiting for the Federal Reserve’s monetary policy on Wednesday (2 PM EDT).

U.S. markets continued with their “jump rally” in overnight session; opening with a gap up then trading in a small but positive range. At the time of writing, U.S. stock futures are marginally lower but as we saw yesterday, these numbers can turn positive any time because the trend is strongly up in U.S. markets. European stock futures are mixed, so are Asia markets. SGX Nifty is just a few points lower, indicating another narrowly range bound session in India markets later today.

Expect global stock markets to trade within this week’s range and follow their dominant pattern, which is mostly positive. Intra day trading may remain subdued keeping the trading range small. Global stocks are following the trend in U.S. markets so the intra day trading pattern of U.S. stock futures will continue to lead the global trend.

Good luck, enjoy the session!

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US Markets Today: Uptrend Intact, May Turn Sideways

19 September 2017 (9:08 AM EDT)

U.S. stock futures are mildly positive, indicating that the new uptrend is intact but today’s intra day trend may turn sideways.

The immediate trading range will be within yesterday’s high and low levels. It is a strong uptrend in these markets and usually, in such trends buying support keeps coming in at every dip.

Traders should watch for that support and trade with the short term trend. Long term trend is positive, intra day trend could continue to be up or become sideways in this session.

Good luck, enjoy the session!

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India Markets Today: Volatile, Range Bound Session

19 September 2017 (8:36 AM IST)

SGX Nifty is nearly -10 points down at the time of writing, indicating a marginally lower/ flat opening in India markets later today.

Nifty had staged a breakout yesterday, closing above its recent major resistance and high level of 10,137. Now 10,130 should act as a major support. Global markets have started trend upwards and in Nifty is also following that trend. Bank Nifty is still range bound and has to cross above 25,100 to start a new uptrend. Below that level, this banking index will remain range bound.

For intra day trading in Nifty, pivot mark is at 10152 and support comes below this mark, near levels of 10132- 10111- 10091. Resistance levels will be near 10172- 10192 and 101213.

Major Indian indexes will either remain range bound in previous session’s high and low levels or, if global cues turn higher, Indian indexes will also follow that trend.

Good luck, enjoy the session!

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World Markets Today: Mixed Session, Positive Trend

19 September 2017 (8:16 AM IST)

18 September 2017 (10:46 PM EDT)

U.S. markets continued with their “jump rally” in the overnights session. These “jump rallies” are characterized by continuous gap up openings and positive sessions, taking markets higher without any dip in the trend. On daily charts, this type or rally looks like an almost straight, steep line going upwards. Usually, this kind of steep uptrend takes place when markets are expecting big, free money from some source such as big central bank QE or now, from Trump stimulus.

U.S. markets have also been completely ignoring all that North Korea brouhaha which shows that North Korea is nothing but a hoax, created by global powers to use it for their advantage. that is why, when global markets were worrying about NK missile launches, U.S. indexes were rallying ahead. S&P500 is comfortably above 2500 now and Dow Jones is headed towards 23,000.

Today, at the time of writing, U.S. and European stock futures are pausing and trading just below the red line, hinting at a range bound session. Asia markets are mixed, showing the same pattern and SGX Nifty is some -15 points lower, indicating a range bound pattern in India markets too.

This range bound pattern is for short term, the trend has become positive for global markets. After the recent breakouts, buying is expected to come at dips or support levels thus supporting the uptrend.

Previous major resistance levels will now act as support levels. U.S. markets are leading the global trend and other stock markets will continue to follow the trend in those big markets.

Expect global markets to remain either range bound (trade within previous session’s range) or continue with a positive trend. Markets may remain choppy as usually happens in range bound and mixed session.

Watch how your local index trades and follow the short term trend for intra day trading.

Good luck, enjoy the session!

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US Markets Today: Looking To Continue New Uptrend

18 September 2017 (8:47 AM EDT)

Last week, U.S. markets had staged a breakout so today, the immediate trading range will be between high and low levels of previous session.

That means, previous session’s high will be immediate resistance and previous low will be immediate support.

S&P 500 was to first to breach its resistance and start trading in a new range when it crossed above 2,890 and stayed above this levels. Now this level will act as its range support.

Dow Jones staged a range breach by crossing above 22,200 and now this levels has become the new range support for this mega index.

Only Nasdaq Composite is still range bound and has to start trading above its current range resistance of 6460. Basically, it needs to trade above its previous high (6464) else this tech index will remain range bound.

Traders should watch for a continuation or this new uptrend in Dow Jones and S&P 500. If these indexes succeed in trading above previous high, then it will confirm an uptrend. If these indexes turn low and trade within previous session’s range, then it will become another sideways pattern till the new high mark is breached.

Wait and watch how major indexes trade, then trade accordingly.

Good luck, enjoy the session!

 

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India Markets Today: High Open, Range Bound Session

18 September 2017 (8:15 AM IST)

SGX Nifty is nearly 50 points higher in early trade. If Nifty opens with similar gains than it will open near 10137, which was its highest point in August 2017.

So, traders should wait and watch if Nifty crosses above that high level or turns range  bound after a gap up opening.

Intra day pivot for Nifty will come at 10081 and resistance levels will be near higher levels of 10119- 10152- 10190. Support will come below the pivot mark, near lower levels of 10047- 10009-9976.

Watch these Nifty levels, wait for a trend to establish, then trade accordingly.

Good luck, enjoy the session!

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World Markets Today: Rallying on Wall Street Breakout

18 September 2017 (8:15 AM IST)

17 September 2017 (10:45 PM EDT)

Wall Street staged a breakout on Friday last and all major U.S. indexes made new record highs. S&P 500 closed just above 2,500 and today, in early Asia session, U.S. stock futures are trading with big gains, indicating a new uptrend may start in U.S. markets as Trump administration prepares for its ambitious tax cuts program.

Other stock markets are also showing enthusiasm following higher trend in U.S. markets. European stock futures are high, all major Asian markets are positive, SGX Nifty is more than 50 points higher, indicating a gap up opening in India markets later today.

This week will also see the Federal Reserve’s rate decision on Wednesday but it looks like global stocks are more happy about Trump stimulus than worry about the Fed’s rate hike.

Expect global markets to follow the trend in U.S. markets and trade positive as long as U.S. stock futures are higher. Any index trading above its daily pivot or previous high could see more gains. Support levels are expected to be stronger than resistance levels.

Watch those levels of your local index and trade with the trend.

Good luck, enjoy the session!

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US Markets Today: Volatile on Economic Reports

15 September 2017 (9:09 AM EDT)

Various Month -On-Month (MoM) Retail Sales reports have come with mostly lower numbers today. These numbers may keep U.S. markets under pressure and volatile after the opening bell.

Major U.S. indexes had a mixed session yesterday and today also, S&P 500 and Nasdaq futures are showing comparatively lower numbers that Dow Jones futures.

Dow Jones had closed positive yesterday and the index may continue to trade within last session’s range. Overall, U.S. markets are expected to trade within their weekly range and trade with choppiness as range bound markets usually do.

Watch the support and resistance levels of your chosen index/stocks and trade with the short term trend. The trading range may remain narrow,

Good luck, enjoy the session!

 

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India Markets Today: Choppy, Range Bound Session

15 September 2017 (9:00 AM IST)

Both Nifty and Bank Nifty have reached their range top levels and that in itself is reason enough to increase choppiness in India markets.

Nifty has been facing selling pressure at higher levels, indicating that buyers are not enthusiastic abut taking the index any higher than current levels.

Today, North Korea missile launch worries are keeping SGX Nifty down and it may affect the trading pattern of Nifty also.

Intra day pivot mark for Nifty happens to be at  10094. Support is expected below this mark, near levels of 10062- 10038- 10006 and resistance is expected near  10118- 10150-10174.

Expect India markets to trade within their weekly range and remain highly volatile as range bound markets usually are.

Good luck, enjoy the session!

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