13 March 2018 (8:35 AM IST)
12 March 2018 (11:01 PM EDT)
World stock markets are set for a volatile but range bound session today. U.S. stock markets had a mixed closing in their overnight session where Dow Jones and S&P 500 closed with negative numbers but Nasdaq closed in the green.
Although Dow Jones fell by more than 150 points, the index clung to its immediate support of 25,200 rather strongly through the session, so at this time, I am not giving much importance to its overnight negative closing. Dow Jones will remain range bound and perhaps keep hopes alive for further gains as long as it trades above 25,000- its current strong support.
But that is my personal opinion, Asian stock markets are more worried about numbers than charts so all major Asian stock markets are trading in the red at the time of writing. SGX Nifty is also mildly lower, indicating a flat/ negative opening in Indian stock markets.
U.S. and European stock futures are mixed with single digit positive or negative numbers.
World stock markets are expected to trade within their current trading range. Intraday pivot levels will provide cues to how big or small this trading range will be in individual indexes. Volatility levels will be high as usually happens in range bound markets.