US Markets Today: Volatile, Range Bound Session

23 June 2017 (9:18 AM EDT)

U.S. index futures are indicating a mixed, volatile and range bound session in U.S. markets in this last session of the week.

European markets are already trading negative and going by chart patterns, Dow Jones looks in trouble as the index closed near its day’s low in previous session.

As we had discussed yesterday, Dow Jones has a support zone between 21,400- 21,380. If the index falls below this zone, then it may trade further down to lower support levels of 21, 300- 21,270 or 21,200. In that case, last week’s positive breakout when it had hit 21,500, will prove to be a false breakout.

If, however, this mega index survives above the support of 21,400 then its current range will remain intact.

Wait and watch how Dow Jones behave, then trade with the short term trend.

Good luck, enjoy the session!

Posted in U.S. Markets | Tagged , , , , , | Leave a comment

India Markets Today: Volatile, Range Bound Session

23 June 2017 (8:50 AM IST)

Indian stock markets had a very volatile session yesterday, where all three major indexes- NSE Nifty & Bank Nifty and BSE Sensex first rallied crazily and in the second half, lost all those gains to end flat. Nifty ended negative after a high run.

That was some fishy trend for Nifty, which closed right at its 20-Day Moving Average, a technical support. This can be seen with Bollinger Bands indicator. If Nifty trades lower than previous low, then we may see some correction in this index.

However, if Nifty stages a bounce back from this support, then the index will remain range bound, just as we have seen on many occasions before.

Although these markets are in an uptrend and turning range bound at range tops is nothing unusual. But, the last candlestick was what traders call a “pin bar” and can indicate a trend reversal. This pin bar is made when the security/ index rallies up but then a strong selling pressure drives it down to close flat or negative.

Indian markets can remain range bound today (trade in yesterday’s range) or turn lower.

For Nifty, pivot mark is at 9, 648. Above this level, resistance comes near 9,679- 9,729 or 9,761 levels. Support will come below the pivot mark, near 9,598- 9,567 or 9517 level.

Watch how Nifty trades and follow the short term trend.

Good luck, enjoy the session!

Posted in Indian Markets | Tagged , , , , , | Leave a comment

World Markets Today: Highly Volatile, Range Bound Session

23 June 2017 (8:43 AM IST)

22 June 2017 (11:14 PM EDT)

Asian stock markets have started their last session of this week, and the trend is  looking quite flat. Nikkei (Japan) is slightly lower while other major markets are trading with marginally positive numbers. SGX Nifty is also flat, indicating a similar subdued opening in Indian markets today.

U.S. stocks had closed mixed overnight, with Dow Jones closing towards the lower end if its current range, exhibiting a weakness in trend.

That hint of weakness in this trend setting index is keeping global stocks subdued in this session.

U.S. and European stock futures are trading with mild gains at the time of writing, so there is a chance that these range bound markets could trade slightly positive today.

Expect a highly volatile, mixed and range bound session in global markets today. Watch how your local index trades and follow the short term trend.

Good luck, enjoy the session!

Posted in Share Markets Today | Leave a comment

US Markets Today: Range Bound, Volatile Session

22 June 2017 (8:56 AM EDT)

Although Oil prices have bounced back today, but European markets are trading in a narrow range and U.S. stock futures are also almost flat, down with few points.

Dow Jones is expected to open near/ slightly below 21,4000 and will be testings its range support near that level. If the index index fails to survive/ bounce back from this support and falls below 21,380, then its rally last week and breakout will prove fake. In that condition, Dow Jones will step down one notch lower and trade in previous range of 21,400- 21,200.

If this mega index finds support anywhere between 21,400- 21,380 and bounces back, then its current uptrend will remain intact.

Wait to see if that supportive bounce comes in Dow Jones, then trade with the short term trend. Markets may remain highly volatile near support levels.

Good luck, enjoy the session!

Posted in U.S. Markets | Tagged , , , , , | Leave a comment

Indian Markets Today: Volatile, Range Bound Session

22 June 2017 (8:50 AM IST)

Indian markets have been highly volatile and narrowly range bound in last two sessions, caught between negative global sentiments and a positive, local trend.

Nifty and Bank Nifty bounced back form their technical support levels last week and are now trading near their range resistance levels. Form here, these indexes will either remain range bound within a weekly range, or try to push forward if global trend turns favorable.

SGX Nifty is trading nearly 10 points higher, indicating a similar opening for Nifty.

For intra day trading, nifty has pivot mark at 9,630. above this level, resistance comes near  9,653- 9,672 or 9695 marks. Support will come below the pivot mark at levels 9,611- 9,589 or 9,569.

Watch these Nifty levels and follow the short term trend.

Good luck, enjoy the session!

Posted in Indian Markets | Tagged , , , , , , | Leave a comment

World Markets Today: Choppy, Mixed Session

22 June 2017 (8:45 AM IST)

21 June 2017 (11:15 PM EDT)

Global stock markets are expected to trade with mixed trends today, based mostly on local cues.

U.S. and European markets have been lower recently, as Oil prices fall, which is bad for inflation in these countries. But for other countries like emerging markets, lower Oil prices are a blessing to keep their inflation in control.

Because of this different perspective, most of the Asian markets are trading positive today even though U.S. markets had closed negative in their overnight session.

SGX Nifty is also slightly positive, hinting at a flat/ positive opening in Indian markets soon.

Expect a choppy, mostly range bound and mixed trend in global markets today. Watch the trend in your local index and trade accordingly.

Good luck, enjoy the session!

Posted in Share Markets Today | Leave a comment

US Markets Today: Range Bound, Volatile with Oil Prices

21 June 2017 (9:04 AM EDT)

U.S. stock futures have shown remarkable improvement with rise in Oil prices. Earlier, U.S. stock future,s especially those of Nasdaq, were trading with highly negative numbers.

But now, before the opening bell, U.S. stock futures have turned positive, indicating a range bound session in U.S. markets today.

For major U.S. indexes, the trading range is expected to remain within yesterday’s high an low. A broader range will be created by weekly high and low levels.

Nasdaq is trading with highly choppy manner in a new, smaller range. This tech index had failed to cross over its major resistance yesterday and closed below current support of 6,200. That indicates a weakness in the index even though Dow Jones had been cruising to new highs.

If Nasdaq falls below 6,100- in any futures sessions; it will put more selling pressure on this index and may pull down broader U.S. markets along with. Right now, the index is roaming between 6,100- 6,165 (first level of current range) and 6,200- 6,260 (second level).

Dow Jones is in a better place, going up like a non-ending mountain peak. It has a support  zone spreading from 21,380- 21,436. As long as the index keeps bouncing back from this zone, a higher trend will continue. Below 21,380, it will turn range bound.

Watch for support at lower levels/ resistance at higher levels and trade with the short term trend.

Good luck, enjoy the session!

Posted in U.S. Markets | Leave a comment

Indian Markets Today: Choppy on Global Cues

21 June 2017 (8:46 AM IST)

SGX Nifty is pointing to a lower opening in Indian markets today, which is normal considering Nifty is highly range bound and had reached near its range resistance of 9,700.

In such conditions, support and resistance levels play a significant role in day trading where traders should watch for bounce and drop form key levels.

For Nifty, today’s intra day pivot comes at 9,657 mark. If Nifty falls below this level then the index will seek support near 9,639- 9,625 or 9,606 level.

In case Nifty trades above the pivot mark, then resistance will come near 9,672- 9,670 or 9,704.

Watch these levels and trade with the short term trend, which could remain highly volatile on global cues.

Good luck, enjoy the session!

Posted in Indian Markets | Tagged , , , , , , | Leave a comment

World Markets Today: Negative, Choppy on Oil Fall

21 June 2017 (8:46 AM IST)

20 June 2017 (11:16 PM EDT)

U.S. markets fell overnight and closed considerably negative as Oil prices fell and U.S. WTI crude Oil entered bear territory.

As a result, Asian session has started with red numbers all around, except China index which is trading positive after china large cap shares were included in MSCI emerging market index. This could help big money inflow in Chinese stocks.

At the time of writing, other major Asian indexes, U.S. and European stock futures are trading negative. SGX Nifty is also highly negative, indicating a lower opening in Indian markets today.

Expect global markets to trade under pressure and see some choppiness. Only a recovery in U.S. stock futures could improve situation in global stocks. Overall, major indexes will trade within this week’s range. A cool down- for any reason, is not unusual after a rally or in range bound markets.

So watch the weekly range in your local index and trade with the short term trend.

Good luck, enjoy the session!

Posted in Share Markets Today | Leave a comment

US Markets Today: Slow Paced, Range Bound Session

20 June 2017 (9:04 AM EDT)

U.S. stock futures are very mildly negative, indicating a flat opening in U.S. markets after a considerably big rally yesterday.

On technical charts, Dow Jones made a very strong, bullish candlestick where its opening was near day’s low and closing was the highest level of the day. Earlier, 21,000 had proven to be a very strong resistance for this mega index but once that resistance was breached, it has now become an equally strong support level for the index.

Above that level, 21,350 provides another strong support to this mega index. If nothing dramatic happens, then Dow Jones may soon reach historic mark of 22,000.

Nasdaq, on the other hand, is still not out of deep waters, in spite a 1.42% gains yesterday. This tech index has a new resistance of 6,261, created by the drop last week. Until the index covers that gap and starts trading above 6,261 mark, this level will act as a strong resistance. Right now, Nasdaq is range bound within 6,250- 6,200 levels.

Today, U.S. markets may remain subdued and trade within upper half of yesterday’s range. Or, major indexes may continue to climb in which case, Dow Jones will create new record and Nasdaq will seek to breach its new resistance levels.

Watch how the trend unfolds then trade with the short term trend.

Good luck, enjoy the session!

Posted in U.S. Markets | Tagged , , , , , | Leave a comment