1 December 2020 (8:03 am IST)
30 November 2020 (9:33 pm EST)
US stock futures are rallying in the Asia session today. All major Asian stock markets are also trading positive. SGX Nifty is down by minor margins, showing a similar subdued opening for Indian stock markets.
If all numbers are positive, why we are doubtful that the intraday session could be volatile? Because world stock markets are starting a new month and their trend in the previous 4 weeks has been range bound and highly volatile. Even the start of this week does not look solid in global stocks.
- How To Day Trade: We would advise our readers to be cautious about a trend reversal towards the lower side.
- If their markets start positive and continue to climb, they should follow the trend, trade in long positions, but stay alert for any change in the trend.
- If their markets show any weakness later in the session, they should exit long positions and wait for a set up good enough for short selling; such as “lower high”.
World stock markets are trading mixed this week, just like the previous 4 weeks. Day traders must consult the monthly, weekly, and the previous day’s charts to understand what trend in dominating their markets and trade with that trend.
