15 January 2021 (7:48 am IST)
14 January 2021 (9:18 pm EST)
Last session of this week, and world stock markets are trading mostly negative before the close for the weekend.
US stock markets closed marginally negative in their overnight session. US stock futures are trading negative, continuing the trend in US stocks. European stock futures are also down.
In Asia, major stock markets are trading mixed, mostly negative. SGX Nifty is 40 points down, showing signs of a lower opening for Indian stock markets.
How To Day Trade:
- World stock markets are mostly down in the early trading hours of this session.
- The overall trend is rangebound that’s why we are witnessing positive and negative trends on alternate days.
- Day traders should use trading strategies for rangebound trend.
- This trend is best tackled by trading between horizontal support and resistance levels.
- Draw these levels by using high and low points of weekly candlestick.
- Use daily candlesticks for a finer representation of these levels.
- Wait until markets touch any of these levels and reverse.
- That will be the right point for opening an intraday trade.
- Follow the minor trendline and exit trades once the trendline is broken.
World stock markets are showing a rangebound and weak trend. Most of the major indexes are trading negative. Markets are expected to trade within the weekly range and stay volatile.