17 January 2019 (9:12 am IST)
16 January (10:42 pm EST)
World stock markets are cheering the expected growth numbers in the China economy.
US stock markets had partied in their overnight session about the first phase of the trade deal between the US and China. Dow Jones close at 29,297. Now just a few hundred points away from the 30,000 level we have been predicting for this index since long.
At this hour, all major Asian stock markets are trading positive. US and European stock futures are positive. Only SGX Nifty is 20 points down, indicating range-top resistance for the Indian stock markets.
For global stocks, today’s positive trend is based on the positive economic scenarios so the foundation of this trend is strong. Only a bad news can rattle stocks in this session.
Day traders should adopt the best trading strategy of following the trend and booking profits when the trend line breaks.