Indian Stock Markets Today: Negative Start, Downtrend

28 July, 2021 (7:58 am IST)

SGX Nifty is highly negative, following the global markets, and Indian stock markets will also open with a gap down.

Yesterday, Indian stock markets had a positive opening, but traded in a very small range, indicating that they have now created a lower range top.

How To Trade Nifty Today:

  1. Nifty had earlier found resistance near 15,900, but now this has come down and yesterday, Nifty showed, it is now finding difficult to break the resistance level of 15,800.
  2. Day traders should pay attention to new (and lower) support and resistance levels of Nifty and trade between those levels.
  3. A lower opening in Nifty, as suggested by SGX Nifty, will result in some recovery because of technical reasons.
  4. But don’t expect Nifty to recover much, since the global trend is also highly negative today.
  5. It is a session to follow the minor downtrend and that’s what day traders should do.

Indian stock markets are going to open with a gap down, as global stock markets fall. The broader trend is rangebound and Indian stock markets are also trading with minor up and down trends within their own range.

This entry was posted in Indian Stock Market and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

five × four =