4 March, 2021 (8:46 IST)
Yesterday, Indian stock markets had a big rally. Nifty rose 326 points. Today, SGX Nifty is down by 270 points and it seems that Nifty will lose all its previous gains with the opening bell.
Global markets are falling as bond yields rise and investors take out their money from stocks. Indian stock markets will also suffer from this trend and are expected to trade lower in this session. These markets have been trading up and down with world stock markets since the last week, so basically these are trading in a broad range.
How To Trade Nifty:
- Nifty is expected to trade with the global cues.
- That could mean a continuation of downtrend even after a low opening.
- Day traders should wait for Nifty to create a trend after the opening hour’s volatility.
- Once Nifty gives clear signals of a trend (it could be a “lower high” or “higher low” on charts), day traders can initiate their trades.
- Do not forget putting stop loss in all open trades for successful money management.
Indian stock markets are set for a gap down opening and trade low with global cues. Markets may stay highly volatile as this session will see weekly Options expiry in Nifty and Bank Nifty.