16 January 2020, (8:48 am IST)
Indian stock markets have been trading in a narrow range this week. Especially Nifty has been slow-paced and sticking to the level of 12,300.
Today is weekly Options expiry for Nifty and Bank Nifty and we’ll have to wait and see if Nifty returns to a normal trading session.
In range-bound markets, pivot levels can be useful for spotting the trading range. We have provided these on our Pivot Trading page. For major indexes, these levels are:
Going by this week’s trading pattern, Indian stock markets are expected to trade range-bound. For small day traders, such a narrow trading range is not good for trading because their profits will be zero and brokerage losses will be big. For such market conditions, the best trading strategy is to stay away from trading and wait for markets to return to any trend.
16 January 2020, (8:48 am IST)
15 January 2020, (10:18 pm EST)
World stock markets are trading positive after the US-China inked the first phase of their trade deal. Only the Shanghai main index is marginally down.
All other Asian stock markets are trading positive, but with thin gains, following the positive closing in US stock markets in their overnight session. SGX Nifty is flat/slightly negative, waiting for Indian stock markets to open and established their trend.
US and European stock futures are trading with slight gains.
The best day trading strategy will be to wait and watch for the intraday range, then trade with the support and resistance levels since the trading range seems to be narrow.
15 January 2020, (9:07 am IST)
In the last two sessions, Indian stock markets have been trading in a very narrow range. Especially Nifty had been in a “no trading zone” going by its very narrow and straight range.
Yesterday, after trading in a straight line (check 30-minutes charts), Nifty jumped and broke out of this range but the gains were equally small.
Their rangebound manner shows that Indian stock markets are waiting for some big event. It could be the Union Budget, the RBI meeting or anything else.
If this kind of narrow range continues, then it will be useless to trade. If the range becomes broader, then take the help of pivot levels on our Pivot Trading page. These levels are:
Indian stock markets have been going higher without any foundation. Nifty has gone above 12,360 without any support. Some correction is expected in these markets but that may or may not happen. Day traders must follow the trend whether it goes up or down because trading with the trend is the best day trading strategy.
15 January 2020, (9:07 am IST)
14 January 2020, (10:37 pm EST)
World stock markets are trading according to their cyclic nature. Yesterday, at this hour world stock markets were positive and today, almost all major indexes are negative.
In Asia, major stock markets are trading negative, only the main Australian index; ASX200 in showing positive numbers. SGX Nifty is down by 24 points hinting at a negative open for Indian stock markets soon.
US stock futures are considerably down and European stock futures are following that negative trend.
Overall, this is a negative start in world stock markets, lead by US stock futures. The trend looks choppy and day traders should be focused on their trades in case markets turn volatile.
14 January 2020, (9:08 am IST)
SGX Nifty is showing flat numbers but actually, this futures index of Nifty had opened high and from there, it has been declining in an almost straight line.
Yesterday, Nifty had also traded in a small range, hinting at resistance at day’s high levels.
After a rally, such indications signal a possible trend reversal. So, day traders should keep in mind this possibility for Indian stock markets.
Intraday range levels are given on our Pivot Trading page . These levels are:
Indian stock markets are giving signals of a trend reversal from current levels. Global cues are also turning negative. We may see a negative session in Indian stock markets today.
14 January 2020, (9:01 am IST)
13 January 2020, (10:31 pm EST)
US stock markets had another positive closing in their overnight session, with Nasdaq and S&P 500 hitting another all-time high milestone. However, in the Asia session, US and European stock futures have turned negative, which can put pressure on global stocks and turn the session volatile.
At the time of writing, almost all major Asian stock markets are trading positive. SGX Nifty is flat and US and European futures have turned marginally negative.
As we know, the trend in US stock futures could dominate world stock markets. So, day traders should follow the local trend but stay cautious about global volatility in stocks.
13 January 2020, (9:17 am IST)
Indian stock markets have opened with big gains and as we had written in our previous post, these markets are continuing with their pre-budget rally.
We had also written that Nifty had made a powerful “hammer” candlestick on weekly charts which signaled more gains ahead. True to that, Nifty and broader markets have started the new week with a gap-up opening with indicates more gains ahead if the closing is also highly positive.
You can use the pivot levels given on our Pivot Trading page for help in intraday trading. These levels are:
Indian stock markets have broken out of their previous range and today’s closing could indicate if this breakout will sustain. A positive closing will be a good sign for this rally. But a negative closing will turn these markets range bound.
13 January 2020, (9:10 am IST)
12 January 2020, (10:38 pm EST)
Despite geopolitical tensions, Dow Jones touched 29,000 in its last session. What does this tell us? Ignore all those threats and bravado from leaders and focus on the technical chart which is showing no fear in world stock markets. It’s all about oil and who makes a profit from this WWE style fighting. Check the news about Saudi Aramco and how many more billions it is making.
Back to world stock markets, that have started positively in this session. All major Asian stock markets are trading with gains. Only Australian stock markets are trading in the red. US and European stock futures are also trading highly positive and Indian stock markets have opened with good gains.
Global stocks have started positive, but the trend could remain range bound within the last week’s range.
Day traders should follow their local trends and trade with the technical signals. In fact, this simple strategy is THE BEST trading strategy at all times. So, check how your local markets are trading, and trade accordingly.
10 January 2020 (8:58 am IST)
Indian stock markets are expected to open positive and most probably, continue with their previous rally. If the global geopolitical situation was not in a crisis right now, these markets would have embarked on their annual pre-budget rally by now.
The pre-open numbers are showing a positive opening in the Indian stocks. Major indexes like Nifty have made a very positive, big “Hammer” candlestick on their weekly charts so the technical signals are very positive for these markets, only the change in global cue can interfere in the Indian stock’s uptrend.
Day traders should trade carefully in this last session of the week. The daily pivot levels are given on our Pivot Trading page. These levels are:
Indian stock markets are set for a higher opening today. But the trading pattern could turn volatile if global cues change. Nifty is expected to open near its all-time high levels and such an opening will either trigger an uptrend or make the index highly volatile and rangebound
10 January 2020, (8:59 am IST)
09 January 2020, (10:27 pm EST)
Remember, we keep writing that the Dow Jones is heading towards 30,000? In its overnight session, the mega index rallied and almost touched 29,000.
However, the rally in US stock markets has not convinced global stocks that all is well with the Middle East crisis, and world stock markets are trading positive, but with marginal gains.
At this hour, major Asian stock markets are trading positive with slight gains. SGX Nifty is higher by only 12 points. US and European stock markets are positive but the margins are thin.
This happens to be the week’s last trading session, so, it won’t be surprising if world stock markets see some profit booking before the weekend closing.
For day trading, the best strategy will be; follow the minor trend. Market volatility will remain high so small traders should trade less and be more cautious.