22 December 2017 (8:21 AM IST)
21 December 2017 (9:52 PM EST)
Christmas brings longest stretch of stock market holidays and global stock markets are preparing to go on that holiday now. Some European markets will have an early close today and a majority of stock markets will remain close on Monday.
Tuesday will also mean Boxing Day hold for many European markets so we will have a full session only on Tuesday. We will talk about New Year stock markets holidays after that 🙂
Volumes have started going down and that is why, U.S. stock markets saw a range bound session overnight, where major indexes rallied at first but saw profit booking by day traders in the second half and closed within previous range.
This daytrading pattern is expected to continue in global stock markets today. Asia markets are indicating a similar trading pattern where major stock indexes are positive but with minor gains. SGX nifty is flat, indicating a rangebound opening in India’s Nifty. U.S. and European stock futures are fluctuating with minor gains.
In such rangebound sessions, the best stock trading strategy is to trade with intra day support and resistance levels. You can check these levels for some major indexes on our daytrading pivot page.
Watch those pivot levels for you local index and trade with the short term trend, which is expected to remain volatile, and dominated by local cues.
Good luck, enjoy the sessions!