1 January 2020 (8:41 am IST)
31 December 2019, (10:10 pm EST)
Almost all major markets in Asia and Europe are closed today, so in world stock markets we can talk about only two markets; US and India that are open for trade.
US stock futures are enjoying the silence in global markets, and are trading with big gains. Dow Jones futures are already up by more a hundred points, indicating a rang bound trading pattern in those markets.
Here in Asia, SGX Nifty is following those gains and is up by 24 points, indicating a slightly better opening for Indian stock markets than the previous closing. Although, there is one difference in these two markets; US stock markets are good for “buying on dips” and the Indian stock markets are currently in a stage where “selling on bounce” is good for a profitable trading.
Traders in these markets can follow these strategies in the new year and take advantage of the current trend.