9 October 2019 (8:48 am IST)
8 October 2019 (11:17 pm EDT)
US stock markets continued their weekly downtrend in the overnight session, but those markets are still rangebound within the last week’s broad range.
Asian stock markets are following that downtrend and trading mostly negative. SGX Nifty has covered almost half of the previous session’s losses but still showing a weak opening for Indian stock markets.
US and European stock futures are trading positive after suffering losses in the first two sessions of this week. So, right now, it seems that these bigger markets could see some support in this session and trade positive but rangebound once their opening bell rings.
For day trading, wait and watch what kind of intraday trend forms in your local stock markets. Pay attention to major support and resistance levels and trade within those levels with the short term trend.