23 November 2020 (7:53 am IST)
22 November 2020 (9:22 pm EST)
A new daily and weekly session has started in world stock markets with mixed numbers.
US stock markets had finished their last week with substantial negative numbers on Friday. Today US stock futures are positive but the strength is lacking in those numbers.
Perhaps that’s why major Asian stock markets are trading with mixed numbers; some positive and some negative, ready to trip down the fence in case US stock futures turn negative.
SGX Nifty is 50 points up, but range bound in a narrow trading range. This shows that Indian stock markets will open positive but stay range bound.
How To Day Trade:
- Since there is not strong global trend, the intraday trading will depend on local trend.
- Day traders should consult the weekly and daily charts of their local markets.
- Positive or negative, markets are going to stay range bound in this session like the previous week.
- If the intraday trend is negative, look for short selling opportunities near resistance levels and exit near support.
- If your markets are trading up, wait for the price to rise after a dip and enter long trades along with the trend line. Exit when price breaks the trendline.
World stock markets have started this new week with mixed trends. US stock futures are positive but showing weakness. That can keep the trend subdued in global stocks, or turn negative later in the session.