28 July, 2021 (8:37 am IST)
27 July, 2021 (11:06 pm EDT)
US Stock market closed negative in their overnight session. Nasdaq fell nearly 200 points. Other major indexes also closed with negative numbers.
Major Asian stock stock markets are trading negative. Hong Kong markets have been falling for the last two sessions, today these markets are showing signs of recovery.
SGX Nifty was 34 points up, but then, this futures index of India’s Nifty 50 lost much of the gains and is now trading only 16 points higher. This indicates that Indian stock markets may continue their previous negative trend.
US stock futures are trading between red and green numbers. These numbers will dominate the global trend in this whole session.
How To Day Trade Today:
- For many weeks, world stock markets have been trading range bound.
- Today also, that range bound trading pattern will continue.
- Day traders should follow the local trend and trade between the support and resistance levels.
- They can obtain these levels from weekly charts, by drawing horizontal lines on top and bottom levels.
- Do not expect big profits, but accumulate small profits that will become big in a few days, if you trade correctly.
World stock markets are trading range bound and this is a good opportunity to trade up or down from support and resistance levels. Day traders should focus only on these levels and forget about trend lines and moving averages, which don’t work in range bound markets.