US Markets Today: Closed for the Independence Day

Jul 3, 2015, (9:40AM EDT)

U.S. markets have gone on a long weekend to celebrate their Independence Day, while the rest of the world grapples with a Greek dilemma. These markets will return to more fireworks next week when Greek referendum results will be out and the Fed’s meeting minutes will come mid-week.

However, today U.S. stock futures are open for trading and are trading down with European markets. Early trends from the Greek referendum about accepting international bailout and its strict terms have started coming in and these results are showing very thin majority in favor of a “yes” vote.

So the uncertainty remains, and like the last weekend, this one will also keep European leaders and financial decision makers quite busy.

Traders from U.S. markets can enjoy real fireworks this weekend, and be ready for some stock-markets boom and crash next week!

Till then, good luck and have fun.

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Indian Markets Today: Nifty Range Bound and Volatile

3 Jul, 2015 (8:09AM IST)

Although SGX Nifty is trading lower by some -15 points, in recent few sessions this index has been actually following the trend in NSE Nifty which has defied global cues to trade up after bouncing back from bottom levels.

This uptrend will remain intact as long as Nifty stays above 8,400 level.

For intraday traders, 8,452 will be pivotal level. This will act both as support and resistance level.

If Nifty falls below this level then watch for the next support near 8425. A breach in this support will take Nifty to 8,400.

However, if Nifty survives above 8,450, then expect the index to go back to previous session’s high mark of 8,480.

Nifty has been trying to touch 8,500 mark and has failed in last two session. So this resistance level remains intact, making Nifty range bound between 8,500- 8,400 levels.

Expect Nifty to trade with high volatility within this range. Bank Nifty has more upside left, up to 18,800 level, if it survives above 8,850 level. Below this level, Bank Nifty might fallback to support levels of 18,450- 18,388.

Expect highly volatile session in Indian markets today. There has been very strong buyer support at every dip. That pattern might continue today.

Good luck, trade safely.

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World Markets Today: Volatile, Range bound on Greek, Fed worries

 3 Jul, 2015, (8:06 AM IST )

Jul 2, 2015, (10:35 PM EDT)

I missed world markets for a day (my apologies for not providing market updates), but fortunately,  nothing has changed in global markets in the last 24 hours. Greece worries are still there. Markets are still range bound and slightly negative. But no big movement is happening as far as indexes are concerned.

Global markets have become narrowly range bound as two big events are approaching in next one week. On Sunday, Greeks will vote in a referendum to say “no” to international bailout package and its strict rules. Next week, the Fed will be in focus with the FOMC meeting minutes on Wednesday and the Fed Chair Janet Yellen’s speech on Friday.

So big money is sitting on the sidelines now, not participating in markets, which makes markets roam around in a smaller range with many up and downs.

That pattern was seen in U.S. markets in their last session where major indexes closed near their opening levels.

In Asia, things are mixed and more volatile. Nikkei is negative, Hang Seng is positive and the Shanghai Composite Index is trading nearly -5% losses. Chinese markets have been losing heavily recently and have been extremely volatile. That trend continues today.

European and U.S. futures are trading within a few points’ range, not taking any direction. SGX Nifty is slightly down, indicating another volatile opening in Indian markets.

Expect world markets to trade under pressure, remain subdued and stay within their weekly range. Index traders will have to be on their toes, watching for sudden trend reversal in any direction. Stock trading might provide better trading pattern and chances.

Good luck, enjoy the session.

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US Markets Today: Relief Rally on New Greece Hopes

Jul 1, 2015, (9:30AM EDT)

The Greece drama continues to entertain traders around the world.

Greek Prime Minister Alexis Tsipras has infused a hopeful rally in global markets by indicating that Greece “ is to willing to concede ground in discussions with its creditors.”

European markets and U.S. stock futures instantly zoomed up and rallied with high gains. DAX (Germany) jumped up by nearly 300 points in just a few minutes.

Going by high stock futures, U.S. markets are also going to enjoy a big gap up opening.

The thing to watch is, how long this relief rally will sustain in markets. Basically, nothing has changed as far as ground realities are concerned. Greece has defaulted and it is still going to hold a weekend referendum which might decide its futures with Euro.

Day traders would do well by following the trend and be alert for a trend reversal. Any rumor or speculation can topple markets from their high horses instantly. Better keep your feet on ground and trade safely.

Dow Jones failing to sustain above 17,700 will be an indication of weakness in markets. Keep an eye on that level.

Good luck, enjoy the session and all that drama.

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Indian Markets Today: Under Pressure on local, global cues

1 Jul, 2015, (9:04 AM IST)

Yesterday, credit rating agency Moody’s expressed fears of a policy stagnation in India, after which GX Nifty fell down by more that -35 points during trading hours of U.S. markets.

SGX Nifty is still trading lower by similar numbers, indicating a gap down opening in Nifty and broader Indian markets.
For Nifty, 8,348 will be the first support for the day. Below this level, Nifty can go down to 8,318 level. 8,300 will still act as the strongest support for the index and only if Nifty falls below that level- and stays lower than 8,300, then a low trend will return. Otherwise, Nifty can sustain in a range of 8,300- 8,450 in longer term.

If Nifty survives above 8,348, then it might try to recapture 8,400 level.

Bank Nifty had a technical bounce yesterday from its 20-Day Moving Average. Today, this index can remain positive if it trades above 18,241. On lower level, Bank Nifty will again find major support near 18,080 level.

Watch these levels and trade with the trend.

Good luck, enjoy the session.

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World Markets Today: Volatile, Range bound after Greek Default

1 Jul, 2015, (9:04 AM IST)

Jun 30, 2015, (11:34pm EDT)

The whole world of financial markets is dancing to the tune of a defiant Greece. It has defaulted on IMF payment and is now asking for a third bailout.

The central banks’ inflated QE balloon of trillions of euro and dollar has been punctured with just one pin-prick by Greece. World markets are now worried that many other countries might follow this defiant stance sending the financial world in a tailspin.

The Greek drama will continue for days to come, and the trend will remain under pressure in global markets.

Europe and U.S. markets are facing this pressure at current levels and remained in narrow ranges in their last session.

Asian markets are following that volatile and range bound trend trading mixed. SGX Nifty is trading lower, indicating a negative opening for Indian markets soon.

Expect world markets to trade with volatility, a negative bias and in a small range in markets stay positive. A negative trend will have bigger range if any index falls below its previous low level.

Good luck, enjoy the session.

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US Markets Today: Waiting for the next stage in Greece crisis

Jun 30, 2015, (9:30AM EDT)

Update: Noticed how Dow Jones is struggling to reach 17,700, now a major resistance level? That’s with “compliments” from Greece who is now asking for a third bailout! Enjoy the drama.

Earlier-

U.S. markets fell with a thud in their last session, breaching major support levels.

Dow Jones closed way below its strong range support of 17,700, near the last support of 17,500. Usually if Dow Jones closes below this second major support then its next stop comes only at 17,000.

Today, last minute deal talks are going on between Greece and its international creditors. Although is clear now that Greece is unofficially going to be a defaulter of IMF and is not going to make its debt payment of 1.6 euro.

European markets had traded highly negative in their opening hours of trading but since then there has been some good recovery in European indexes, even though these markets are still trading in the red.

U.S. stock futures have been trading positive, indicating some gains at opening but the real trend will remain weak whatever the outcome of Greece debt deal since a default by Greece could spur more such debt defaults. Puerto Rico has already said that it is unable to pay its international debt.

Expect U.S. markets to trade with some choppiness in early hours. The trading range could remain restricted. Closing levels will indicate if markets can sustain the initial breather or if the negative trend will continue.

Good luck, enjoy the session.

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Indian Markets Today: Hanging on to their weekly range

 30 Jun, 2015, (10:30 AM IST)

Indian markets had recovered smartly in the second half of previous session and today, Nifty is building up on those gains supported by slight recovery in global cues.

Going by Nifty’s tendency of going higher in last couple of weeks, it will not be surprising to see the index go back to its range highs of 8,400 if- I repeat, if global cues also become range bound.

Second half of today’s session will give more clues about which way Nifty is headed. Till then, as long as this index trades above 8,300, it will remain titled towards positive trend. If Nifty falls –and stays – below 8,270 mark, then a lower trend could return to the index and broader Indian markets.

Good luck, enjoy the session.

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World Markets Today: Anxiously waiting for Greece’s next action

Jun 30, 2015, (0:49AM EDT )

Today is the deadline for Greece’s IMF payment. World markets are waiting anxiously how things proceed for Greece because now, a default is certain on its part. The only questions remains, how the euro leaders and IMF react to it? Will Greece be punished by expulsion from the European Union ? Or, will international creditors find a solution to keep Euro intact?

Global markets had crashed yesterday and today, at least in early session, markets are taking a breather and have some positive points in their trading. Asian markets are trading mixed, U.S. and European futures are slightly positive and Indian markets are hovering near their previous close.

Global markets might pick up a clearer trend once European markets open.

Till then, expect global markets to trade with some gains and remain slow paced. After that, news coming from Greece will decide the global trend.

Good luck, trade safely.

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US Markets Today: Negative opening, Volatile Session

Jun 29, 2015, (9:12 AM EDT)

U.S. stock futures and European markets are still highly negative but some recovery has come in the last few hours.

A highly negative opening is expected in U.S. markets but after that, session’s trading pattern will depend on any news, rumor coming from euro zone about the Greece debt deal and its international creditors.

Although leaders of France and Germany have repeated said that they want to keep European Union intact, there have not been any new offers of monetary assistance to Greece.

There has been one news report that offers some hope in this crisis, that Greek banks will reopen on Thursday. This might provide a relief to markets and after a gap down opening, markets could stage slight recovery.

But buyers will not be too enthusiastic and markets could remain choppy and under pressure.

Second half in U.S. markets will give more clear cues as to which way these markets are headed in this crucial week.

Good luck, trade safely.

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