Indian Stock Markets Today: Volatile, Range Bound Intraday Trend

17 July 2018 (8:55 AM IST)

Indian stock markets had a considerable fall yesterday. Nifty easily dropped below 11,000 and closed much lower than this support.

Bank Nifty also closed below its major support of 26,800.

SGX Nifty is trading flat at this time and has been finding support near day’s lower levels.

Indian stock markets could also see an initial support and after that, the intraday trend will depend on how Nifty trades.

Since yesterday’s trading range was quite wide, today’s intraday pivot levels will also have a wide range. Pivot marks will be much higher than usual and can act as a resistance level today. If any index succeeds in crossing above its intraday pivot mark, that will be impressive and a positive signal. Day traders can find these pivot levels on our Pivot Trading page.

Nifty’s intraday pivot is at 10,960. It has support near 10,902- 10,867-10,808 and resistance near 10,995-11,054- 11,088 mark. Nifty’s previous trading 11,019 and 10,926 and this will also form its immediate trading range today.

Pivot levels of major stock indexes are:

Day traders can use these levels to see where markets find intraday support or resistance and plan their trading strategy accordingly.

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World Stock Markets Today: Mixed, Volatile Trend on Local Cues

17 July 2018 (8:38 AM IST)

16 July 2018 (11:08 PM EDT)

A recap of how world stock markets closed yesterday and then a comparison of what is happening in global indexes now:

U.S. stock markets had a mixed closing. Dow Jones succeeded in closing with small but positive numbers in the opening session of the week. Nasdaq fell, dragged by Netflix. Other major U.S. stock indexes also closed negative.

In European stock markets, DAX (Germany) had a positive close after a highly volatile session, still remaining range bound. Other European indexes closed negative. Sort of a repeat of U.S. stock indexes.

In Asia, Nikkei (Japan) was closed yesterday so today this index is trading with positive numbers. Other major Asian stock indexes had traded negative yesterday and are trading negative today.

SGX Nifty had fallen yesterday with bi margins, following a drop in Indian stock markets. Today,this index is still sightly negative but range bound, w waiting for Indian stock markets to open and provide a trend direction.

So, in this second session of the week, Asian region is having a negative weekly trend, expect Nikkei.

European stock futures are mixed, indicating a rangebound or negative intraday trend will dominate those markets.

U.S. stock futures are choppy, still trading near their previous close, giving no clue of how they will trade through the day. In that condition, we can assume that the previous week’s range will be the immediate trading range for those markets too.

Expect this mixed  and technical trend to continue in world stock markets. There is no one big event to unite and drive global stocks so different indexes are trading based on their technical trend.

Day traders should follow those technical support and resistance levels of their local index and trade for short duration with that trend.

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US Stock Markets Today: Range Bound Trend, Volatile Trading Pattern

16 July 2018 (8:44 AM, EDT)

U.S. stock futures are fluctuating near their previous close, indicating a rangebound trading pattern.

European stock markets have started their new week with negative numbers. So their weekly trend will remain negative till they recovered above previous week’s closing.

For U.S. stock markets, last session’s trading range will create today’s immediate trading range. Specially for Dow Jones, last session’s high and low levels will create today’s immediate trading range. For other major indexes, last week’s trading range will be their broad range.

In range bound trading, intraday pivot levels will be good for finding trade entry and trade exit planning. These levels for provided on our Pivot Trading page. Separately,  these levels are:

Markets could remain highly volatile, as rangebound markets usually do. Today’s closing levels will indicate if last week’s positive trend will continue in U.S.. stock markets or major stock indexes will see a weekly reversal.

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Indian Stock Markets Today: Rangebound, Volatile Intraday Trend

16 July 2018 (8:33 AM, IST)

SGX Nifty has been trading with choppiness, following the trading pattern of global stocks.

This futures index of Nifty is still rangebound within last session’s trading range so one can expect a similar volatile and rangebound trading pattern in Nifty and broader Indian stock markets.

Nifty as sown strong support at 11,000 and that may continue as its current support. On the other hand, till now, the index has also faced strong resistance near 11,080. So, tase two levels will continue to restrict Nifty till one of these levels is breached.

That means Nifty traders should look for smaller profits and do short term trades.

Nifty’s intraday pivot will be at 11,030. The index will have intraday supports near 10,988- 10,958-10,917 and resistance near 11,060-11,101- 11,131 marks.

Intraday pivot levels for major Indian stock indexes are available on our Pivot Trading page. Separate levels are:

Wait till initial volatility cools down and markets create a clear trend. Then follow that trend for short term trades.

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World Stock Markets Today: Volatile Opening on Chinese Data

16 July 2018 (8:33 AM,IST)

15 July 2018 (11:03 PM,EDT)

A new week has started in world stock markets with a volatile trading pattern. Chinese economy has thrown some disappointing reports and Asian stock markets have turned negative on that.

U.S. stock futures are positive but with thin margins, resting near their previous close. European futures are mixed. FTSE 100 futures are negative on ongoing Brexit tussle.

SGX Nifty is slightly negative but still within its last session’s range, indicating a flat to negative opening in Indian stock markets today.

Day traders should consult the last week’s closing in their local index and compare with that today’s opening in their stock markets. That will give them an idea whether the local trend in positive or negative. Since global stock markets have been trading in a broad range this year, it is very helpful for day trading to keep in mind weekly/ monthly trading range of any given index.

Expect highly volatile intraday trend in global stock markets today. The immediate trading range will be that of last session’s. Last week’s trading range will create a broader range for global stocks this week.

Day traders should check last week’s trading pattern in their local index, compare that wit this week’s opening, then trade with the dominating trend.

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US Stock Markets Today: Choppy, Rangebound Intraday Trend

13 July 2018 (8:56 AM, EDT)

U.S. stock futures turned negative a few hours ago and since then have been trading flat, indicating that U.S. stock markets could trade within this week’s high and low levels in today’s session.

Especially Dow Jones shied away yesterday from going above its this week’s high level (24,945). If this mega index turns lower in today’s session then on technical charts it will be created “double top” at current levels and day traders know that a double top usually indicates a trend reversal.

However, if Dow Jones climbs up intraday session today and crosses above that mark, then it will resume its uptrend and target higher levels of 25,000 and beyond.

So, today’s immediate trading range will bee that of previous session’s. In this rangebound scenario, markets may become more volatile.

Day traders should wait and let markets create today’s first high and low level and after that, whichever levels is breached, trade in that direction with the short term trend.

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Indian Stock Markets Today: RangeBound, Volatile Trend within Previous Range

13 July 2018 (7:51 AM IST)

Buyers have started sitting on sidelines as Nifty and other major Indian stock indexes reach at/ near their life time high levels.

That’s why yesterday, profit booking brought down Indian stock markets from their day’s high levels and major indexes closed near their opening levels.

Although SGX Nifty is trading with double digit gains,  this futures index of Nifty is still within its previous range and we can expect a similar trading pattern in Nifty and broader Indian stock markets too.

Bank Nifty has been more subdued and keeps stopping near its resistance levels,

As we wrote yesterday, the uptrend in Nifty will indicate a reversal only when the daily candlestick turns negative, closes below previous low and then, confirms it by making lower high.

Today’s immediate trading range will be between yesterday’s high and low mark. Based on that, one can decipher the trend in Nifty. Intraday trend is expected to remain volatile like yesterday.

Nifty’s intrady pivot levels are:

Pivot mark: 11,033

Support Levels: 10,989- 10,955-10,910

Resistance Levels: 11,067-11,112- 11,146

As you know, any index above its intraday pivot mark is expected to remain positive while below this mark selling pressure can come in.

Pivot levels for major indexes are given on our Pivot Trading page. Different levels are:

Wait and watch carefully how a trend develops in markets after initial volatility is over. Then follow that trend.

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World Stock Markets Today: Rangebound and Mixed, Local Trend

13 July 2018 (7:51 AM, IST)

12 July 2018 (10:21 PM, EDT)

Global stock markets are trading with mixed numbers in Asia in this last session of the week.

U.S. and European stock futures are trading highboy Asian stock markets are showing a mix of positive and negative numbers. SGX Nifty is trading with double digit gains but still within yesterday’s trading range, indicating a rangebound trend in Indian stock markets today.

Some profit booking may be seen in this last session of the week and going by the current numbers, the intraday trend may remain mixed, mostly on local and technical cues.

Day traders should follow the intraday trend in their local index and trade for shorter durations and smaller profits as market volatility may increase.

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US Stock Markets Today: Looking To Pick Up Previous Uptrend

12 July 2018 (8:56 AM, EDT)

U.S. stock futures are trading with enough gains to erase yesterday’s losses.

This indicates that yesterday’s negative closing was just a pause and U.S. stock markets may be preparing to pick up their uptrend that they had enjoyed till Tuesday.

Since China has not retaliated with any additional tariffs on U.S. goods, stock markets are taking it as the trade war between these two big economies will not deteriorate further.

Global stock markets turned positive today for that reason and U.S. stock markets are now set for a gap ump opening.

After that, there will be two intraday trend possibilities for U.S. stocks- either a range bound trend within last sessions’ trading range, or more gains for major stock indexes and try to reactor this week’s high levels.

More than intraday pivot levels, weekly trading range will provide support and resistance for major indexes.

For example, if the rally continues in U.S. stock markets this week and the next week too, then Dow Jones  could try to reach the target of 25,000 and 25,300. Last month, the index had traded between 24,000- 25,500 and this month also, it has been rising from the same low levels. Dow Jones has been trading in a simile range since last five months.

For day trading, monthly and weekly trends/ trading ranges become important because they indicate the daily support and resistance levels and day traders can then identify where markets will find support while trading lower and where major resistance will come while markets trend upwards.

Then, the daily range can be broken into hourly support and resistance levels and that too, can be safely decoded on 5-minutes charts to plan intraday trade entry or exit levels.

So, for today, the immediate trading range will be between yesterday’s high and low levels. Beyond that, this week’s high and low levels will create a broader range, and last month’s high and low levels will create outermost trading range.

This range bound trading pattern works perfectly in sideways markets as U.S. stock markets have been this year.

So, day traders should take advantage of this fix trading range and trade with this range.

For today, any index that trades above previous high will be considered in an uptrend. Any index that trades within/below that level will remain range bound.

Watch how markets trade after the opening bell, let an intraday trend develop and then trade with that trend.

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Indian Stock Markets Today: Nifty in Uptrend, Volatile Near Resistance

12 July 2018 (8:55 AM IST)

As we had written previously, Nifty is in a minor uptrend and looked strongly going towards 11,000.

Today’s propane numbers indicate that Nifty will open right at this level. Bank Nifty will open near its previous high mark.

After that, there are two trend possibilities as major Indian stock indexes reach close to their all time high range top: Either, the indexes will continue to trade upwards, or a trend reversal will take place.

Day traders must remember, just because a resistance level is nearby, it does not mean that a trend reversal will take place. Market sharks know this thinking of small traders and use this to crush their trades by taking markets higher than the usual resistance levels.

So, Nifty traders should continue to trade with the trend as long as the trend is intact. An easy way to recognize the long trend is closing levels on daily charts. The trend will revers when the daily candlestick closes below previous low mark. Even after that, a confirmation will be required by next session’s lower closing.

Today, Nifty’s intraday pivot is at 10,926. Above this, resistance is expected near 10,977-11,007- 11,057. Nifty will have support levels near  10,896- 10,846-10,816 marks.

Intraday Pivot Levels for major stock indexes:

Day traders should let markets settle after a high opening. Then watch the intraday trend and trade with that trend.

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