17 September, 2021 (8:20 am IST)
16 September, 2021 (10:50 pm EDT)
World stock markets have spent this week trading on local cues. In this last session of the week, the same trend is continuing with high volatility across the world wide stock markets. In other words, keep your seat belts on because the global roller coaster ride will continue 🙂
US stock markets had a mixed closing in their overnight session. Dow Jones closed negative but made a ‘higher low’ trading pattern, which gives some hopes to bulls. Nasdaq closed positive. These markets are waiting for the Federal Reserve’s meeting next week, so we can expect fireworks in global stock markets until then.
In Asia, major stock markets are trading mixed. Japan, Hong Kong and South Korea markets are down while China and Australian markets are showing an intraday up trend.
SGX Nifty is rallying with almost 100 points gains after it broke out of its range this week. This shows that Indian stock markets will also open higher, and perhaps trade sideways.
How To Day Trade Today:
- It is a local trend’s day, so follow the minor trend in your local stock markets.
- Weekly support and resistance levels will provide important turning points in the intraday trading.
- Watch those levels and check how the trend turns near those levels.
- That will be the cue to open long or short positions.
- Keep the day trading to a minimum today, as this happens to be the last trading session of the week.
- Big day traders will not be interested much in markets today but the next week may open with some big bangs. Save your trading capital for the next week.
World stock markets continue with their mixed trend on local cues. Markets are waiting for the Fed’s meeting next week. Until then, expect global stock markets to stay highly volatile.