18 September 2020 (8:15 am IST)
SGX Nifty is trading 22 points higher at the time of writing, indicating that Nifty and broader Indian stock markets may stay range bound and trade positive within yesterday’s negative trading range.
Like other markets, Indian stock markets have also been range bound since the last two weeks, but in a smaller range.
How To Trade Nifty:
- Nifty has been trading up and down in a single candlestick range.
- Yesterday, this index closed negative so we can expect it to trade positive today.
- However, the fact that Nifty closed at the day’s lowest levels, should be kept in mind and day traders must wait to see if Nifty recovers from yesterday’s low levels or not.
- For day trading strategy in Nifty, the first one would be to treat its trend as range bound. This means trade between yesterday’s high and low levels.
- Second Nifty trading strategy would be to see if it starts trending in one direction; up or down. In that case, day traders should follow and trade with the trend line.
SGX Nifty is indicating a slightly positive opening in Indian stock markets today. that is expected to keep these markets in a sideways trend. For day trading, use the upper and lower levels of the current range in different stock indexes or stocks and trade within those levels.