Indian Markets Today: Volatile, Range Bound on Technical Cues

Apr 24, 2017 (8:51 AM IST)

SGX Nifty is trading flat, indicating that the day’s trend in Indian markets will be decided by how Nifty and Bank Nifty trade.

Both these indexes are trading close to their 20-Day Moving Average, a major support and usually markets tend to become highly volatile near such supports, as both buying and selling pressure pull markets in different directions.

For intra day trading in Nifty, 9,130 will act as pivot mark. If Nifty trades above this mark then it may try to reach higher levels of 9,172- 9,183 or 9,224,

However, if Nifty remains below the pivot level of 9,130, then it may trade lower and seek support near 9077- 9035 (strong support) or 8982.

For Nifty, range support is still intact at 9000 and only a closing below this support will breach Nifty’s current range.

Watch these Nifty levels and trade with the short term trend.

Good luck, enjoy the session!

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World Markets Today: High Start, Range Bounds Session

Apr 24, 2017 (8:28 AM IST)

Apr 23, 2017 (10:59 PM EDT)

Global stock markets had started their session with big jumps as the first round results of the French presidential elections showed gains for markets’ favorite candidate. Although the final round of these elections will be held on May 7 but markets are taking a breath of relief that the cetntrist candidate Macron has gathered more than expected votes.

Most of the surge in stocks had come due to currency and commodity markets’ movements,where euro surged against dollar and huge bets on safe haven commodities like gold were squared off.

European markets will feel more positive impact of these election results and stock futures of major European indexes are surging with big gains. U.S. stock futures have also made similar, high gains following a drop in dollar, but Asian markets are trading mixed. Nikkei surged as yen dropped against dollar but Shanghai and Hong Kong main indexes are trading negative. SGX Nifty is also flat, indicating a similar opening in Indian markets soon.

Global markets are expected to trade on local cues today as regional sentiments will dominate local trend in various markets.Overall, the trend is expected to remain within a broader range, most probably that of the previous week. Geopolitical tensions are still playing in the background so markets may remain highly volatile.

Watch how your local index trades and follow the trend.

Good luck, enjoy the session!

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US Markets Today: Range Bound, Choppy Session

21 April 2017 (9:04 AM EDT)

U.S. stock futures are showing only mild gains, indicating a narrow range bound, choppy session ahead. On this last session of the week, traders/ investors may adopt “wait and watch” policy before French elections on Sunday.

Dow Jones is still keeping within its current range and treating 20,650 as a fence, not venturing further than this range resistance. On lower side, the index has bounced back from its major support of 20,400 so that level will continue to guard against any range breach, at least for the time being.

Let markets create day’s first low and high after the opening bell, then whichever levels is breached; trade in the same direction with the short term trend.

Good luck, enjoy the session!

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Indian Markets Today: Range Bound, Volatile on Global Cues

21 April 2017 (8:16 AM IST)

Indian markets are expected to trade within this week’s range and remain highly volatile on global and technical reasons.

Bank Nifty and Nifty, both indexes are trading close to their range support and markets tend to become highly volatile on such days.

Bank Nifty has this support at 21,400 and Nifty has a strong support near 9070 mark. Another important technical point is 20- Day Moving Average and both these indexes are struggling to keep above this major technical support.

For Nifty, this MA levels falls near 9,150. Today, Nifty has an intra day resistance zone between 9,152 and 9,168 (first and second resistance levels). If the index succeeds in crossing above this zone then it may try to recapture a high of 9,193 (third resistance level).

For Nifty, 9,127 is pivot for intra day trading and if the index falls below this level then support will come near 9,111- 9086 or 9070 (strong support).

Watch those levels and trade with the short term trend.

Good luck, enjoy the session!

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World Markets Today: Positive Start, Range Bound Session

21 April 2017 (8:16 AM IST)

20 April 2017 (10:46 PM EDT)

U.S. markets rallied overnight after the  Treasury Secretary Mnuchin hinted about promised tax reforms coming soon.

Asian markets are taking forward that rally and are trading positive. SGX Nifty is also slightly positive, indicating a positive opening in Indian markets soon.

However, U.S. and European stock futures are not showing much enthusiasm in this session and have started turning negative.

That may keep a lid on global stocks and we may see a continuation of range bound trading pattern in stock markets in this session.

Major markets are expected to trade within this week’s range. U.S. stock futures will lead the global trend and any rise of decline in those numbers will affect other markets too.

Good luck, enjoy the session!

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US Markets Today: Volatile, Mixed Session ahead

20 April 2017 (9:14 AM EDT)

Although U.S. stock futures are indicating a higher opening today; the trading pattern in Dow Jones will dictate how the overall trend in U.S. markets will take shape.

As discussed previously, this mega index has been slowly inching down and its lower levels have been climbing down step by step. From earlier supports of 20,600- 20,650, now the index is touching 20,400 levels.

If Dow starts closing below 20,400, then it will be a range breach and the index may decline further.

S&P 500 and Nasdaq are in a better shape thanks to the earning season but they too cannot escape a correction if Dow Jones falls further.

Today, Dow Jones may open near 20,440, which will be near a resistance level (20,450). Above this level, on hourly charts, resistance comes at nearly every 50 points while 20,400 will present its strongest support levels.

If this support is breached, then going by weekly charts, next major support will come only near 20,270 for Dow Jones. The immediate trading range will be yesterday’s high and low levels (20,550- 20,380). If the index trades positive then it may recapture yesterday’s high level. If it drops below previous closing (20,400) then bears will be back with force in markets.

Good luck, enjoy the session!

 

 

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Indian Markets Today: Volatile, Nifty Showing Weakness

20 April 2017 (8:22 AM IST)

Indian markets may turn volatile as major indexes trade near their range support levels. Yesterday, Bank Nifty survived its 20-day Moving Average but Nifty is trading below this technical support and may face resistance at this level  (9,145).

Bank Nifty is still in uptrend but Nifty has become range bound and has been inching down towards its range support of 9,000.

For intra-day trading in Nifty, 9099 will act as the pivot mark. Above this mark, Nifty may try to recapture 9,124-  9,145 or 9,169 levels. If Nifty trades below today’s pivot of 9099, then support may come near 9078- 9054 or 9033 (strong support).

Watch these levels and trade with the intra day trend which may remain choppy and indexes may swing between support and resistance levels like yesterday. SGX Nifty is slightly negative but the trend will depend on how Nifty trades.

Good luck, enjoy the session!

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World Markets Today: Positive Start, Volatile Session

20 April 2017 (8:22 AM IST)

19 April 2017 (10:52 PM EDT)

U.S. markets closed mixed overnight, but alarm bells are ringing for major U.S. index Dow Jones, which closed at 20,404, below previous week’s low point.

We had been continuously warning about weakness in this index, and it looks like that weakness is increasing slowly in the index. If Dow Jones starts closing below 20,400 then it will lose a major support and will start travelling towards next support of 20,000 or even 19,850, as we had written in recent weeks.

That is all in the future and things may or may not pan out in the same way. Right now, Asian markets have started a new session with marginally positive numbers as yen slips down against dollar. U.S. stock futures are hovering near their previous close and European stock futures are showing double digit gains. SGX Nifty is flat.

Expect global stock markets to trade mostly on their local cues. Global cues are weak. Volatility will remain high, markets will be choppy and trade based on their dominant local trend.

Watch closely and follow that trend.

Good luck, enjoy the session!

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US Markets Today: Volatile, Range Bound Session

19 April 2017 (9:16 AM EDT)

U.S. stock futures are trading with gains, indicating a range bound trading pattern with alternate negative and positive sessions.

Major U.S. indexes are expected to trade within this week’s range. Dow Jones might open near 20,550 and face first resistance near 20,600 or 20,650 like last couple of sessions. Support levels for this mega index are still intact near 20.500- 20,450. Upper range levels for Dow Jones have slipped nearly 100 points down from 20,700- 20,750 to be near 20,600 mark. Lowering support levels indicate increasing selling pressure and weakness in this index. Although the trend in still range bound in this main index and broader U.S. markets, but investors, traders are jittery and any negative news/ event may trigger a stampede in markets.

Range bound markets are best traded by selling near resistance and buying near support level. So keep an eye on those levels and trade with the short term trend.

Good luck, enjoy the session!

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Indian Markets Today: Still in a Range, But Nifty Turning Weak

19 April 2017 (8:30 AM IST)

We have been continuously pointing out that in Indian markets, major index Nifty is showing weakness and yesterday, this index fell and closed much below its 20 Day Moving Average, which indicates significant selling pressure.

Bank Nifty, which had been enjoying an uninterrupted uptrend; showed first signs of selling pressure yesterday when the index fell from day’s high to close in the negative, thus making a big hammer candlestick on the top; which usually signals trend reversal.

However, these things happened yesterday and markets may or may not follow a similar trend today. Nifty is still above its major range support of 9,000 and only a closing below this level will start correction or downtrend in this index. Bank Nifty is still range bound at its historic highs.

SGX Nifty is flat, waiting for Nifty to decide the intra day trend. Nifty has pivot at 9,139. If the index crosses above this level, then it may trade positive and try to recapture previous high levels of 9,183- 9,261 or 9306.

If Nifty trades below its pivot level of 9,139 then it may trade lower and seek support near 9061- 9017 (strong support) or 8938.

Yesterday, Indian markets had had a highly volatile session where major indexes first surged up and then collapsed to close negative. Markets may remain choppy in today’s session also.

Good luck, enjoy the session!

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