8 January 2021 (8:02 am IST)
7 January 2021 (9:32 pm EST)
World stock markets are rallying after US stock markets continued their week long rally and Dow Jones finally broke out of its current range.
For US stock markets, these week long rallies have created positive candlesticks on weekly and monthly charts too and world stock markets are boosted by these positive technical signals.
At this hour, all major Asian stock markets are trading with positive numbers. SGX Nifty is 80 points higher, signaling a higher opening for Indian stock markets. US and European stock futures are highly positive too, indicating continuation of the rally in US stocks.
This is a global positive trend in Asia session, and is expected to continue through the European trading session.
How To Day Trade:
- Despite a positive trend in global stocks in the early trading hours, volatility in stock markets could stay high.
- Day traders should be cautious while trading and must keep strict stop loss in all their open trades.
- It is always a better trading strategy to wait and study the trend in markets instead of assuming what the trend is going to be and start trading as soon as markets open.
- Use trendlines to confirm the uptrend, then trade with it.
- An early jump in markets may left little to do for day traders. Wait for a dip during the intraday trend and trade long once the price again starts rising after the dip.
World stock markets are enjoying a common rally in early trading hours in Asia. Next week will confirm if this rally will continue or stocks will pause again in their uptrend.