3 March, 2021 (8:35 IST)
Indian stock markets have been trading in a specific pattern this week- gap up opening, then sideways trading in a narrow range.
Today, SGX Nifty is hinting at a similar trend again with a gap up opening. Indian stock markets are trading within the last week’s trend and that range is expected to dominate these markets in this session as well.
How To Trade Nifty:
- This index will open with a gap up.
- After that, as we always suggest after gap up or gap down situations, day traders should wait until Nifty has created a specific intraday trend.
- If it is range bound, then trade within the upper and lower bands of this range.
- If the trend is directional, then use minor trendlines to trade with that trend.
- Do not forget to keep stop loss in open trade positions.
- Exit the trade as soon as price breaches the trendline.
Indian stock markets are set for another gap up opening in this session. The weekly trend is rangebound within the last week’s trading range.