Indian Stock Markets Today: Bank Nifty to Dominate Trend

20 April 2018 (8:53 AM IST)

Although SGX Nifty is negative by nearly -40 points, but we have seen recently that Indian stock markets decide their own trend after the opening bell.

So that is expected today also and just like last fews sessions this week, Bank Nifty could dominate the intraday trend in Indian stock markets today.


As we have been writing previously, Bank Nifty has been facing resistance and was reluctant to cross above that hurdle. Nifty and other major indexes were stronger but Bank Nifty’s weakness had been dominating broader markets this week..

It is expected that Bank Nifty will continue to dominate trend in Indian stock markets and at this time, these markets are trading sideways.

Nifty’s intraday pivot will be at 10,561 and support levels will be near 10,550- 10,535-10,524. The index will have intraday resistance near  10,576-10,587- 10,602 and is expected to trade within these levels.

Day traders should let markets establish a trend ad then trade within these levels with that short term trend.

The pivot levels for major Indian indexes are available on our Pivot Trading page.



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World Stock Markets Today: Volatile, Correcting from Resistance Levels

20 April 2018 (8:53 AM IST)

19 April 2018 (11:23 PM EDT)

World stock markets have started correction from their monthly resistance levels. The trend, as always, started from U.S. stock markets and has now spread to Asia.

almost all major Asian stock markets are trading negative in their opening session. SGX Nifty is highly negative, indicating a lower opening in Indian stock markets today.

U.S. stock futures are fluctuating near their previous closing levels, showing choppiness and no signs of improvement after a lower closing in the overnight session.

Expect global stock markets to trade with volatility and remain within their last month’s range. Support and resistance levels continue to create minor and major trend across global markets and day traders should consult those levels in their local index for intraday trading.

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US Stock Markets Today: Trend Reversal From Resistance Levels

19 April 2018 (9:02 AM EDT)

Trend spotting becomes so easy if you pay attention to what stock markets are telling you (instead of being obstinate about what markets should do).

So, in last two session, major U.S. indexes became range bound and yesterday, Dow Jones closed negative, clearly signaling a trend reversal from its current resistance levels.

And today, U.S. stock future shave turned negative, confirming that reversal.

We have been warning our readers about these reversal signals and if they had paid attention to these market-hints, they would have been ready for today’s negative opening in U.S. stock markets.

European stock markets had also turned mixed yesterday and today also those markets are trading with either single digit gains or negative.

Dow Jones futures are nearly -100 points own at the time of writing. Going by these numbers, the index could open near 24,650. Its nearby support levels will be 24,668 and 24,570.

Overall, this index and broader U.S. stock markets will trade within their weekly range, going through same support / resistance levels that had been shaping trend within a broad range since last couple of months.

Today’s intraday support and resistance levels for major U.S. stock indexes are provided on our Pivot Trading page. Check your favorite index’s levels from these links:

Expect a volatile and range bound session in U.S. stock markets today. Closing levels for major indexes will hint at how strong or weak this trend reversal will be in U.S. stock markets.

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Indian Stock Markets Today: Choppy, Range Bound Intraday Trend

19 April 2018 (8:30 AM IST)

Yesterday, we had pointed out that Bank Nifty was facing resistance and could dominate the trend in Indian stock markets.

True to that, Bank Nifty fell from its resistance levels in closing hours and dragged broader stock markets down  along with.

On technical chart, at least Bank Nifty is signaling a trend reversals. Its RSI is turning down from overbought region and it has failed to break out of its technical resistance .

Nifty is also showing overbought conditions but this index is still trading above its all major Moving Averages which is a supportive indication.

Bank Nifty’s weekly chart also show a trend reversal from technical resistance levels but Nifty is still not showing any negative signal on its weekly charts, except for lower volumes.

That means Indian stock markets could see a mixed trend which will remain within this week’s high and low levels.

A range bound trend is usually trapped between support and resistance levels. For Nifty, the current trading range is between 10,600 – 10,425.

Nifty’s intraday pivot mark will be at 10,543. Above this, resistance levels are expected near 10,577-10,627- 10,661 and support levels will be near 10,492- 10,458-10,408.

Pivot levels of major Indian stock indexes are given on our Pivot Trading page. You can also check those levels here:

Today’s session will also see weekly Options expiration in Bank Nifty and that can increase market volatility.

Yesterday’s high and low levels will mark today’s immediate trading range in Indian stock markets. Beyond that, intraday pivot levels will indicate where markets will face resistance or support.

Watch those levels and trade with the short term trend.

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World Stock Markets Today: Range Bound, Slow Paced Start

19 April 2018 (8:30 AM IST)

18 April 2018 (11:00 PM EDT)

It looks like global stock markets have completed their technical bounce back and are reluctance to cross their monthly resistance level.

the trading pattern in U.S. stock markets followed this monthly resistance and had a mixed closing in their overnight session with Dow Jones closing with some negative numbers.

European stock markets also turned slow paced and their previous rally seemed to be fizzling out.

Today, the opening session in global stock markets is all green with positive numbers in Asian stock markets, SGX Nifty, U.S. stock futures and European stock futures. Despite that, global markets are showing a very slow paced trading pattern. Especially U.S. stock futures that are hardly moving from their current levels.

This indicates that the buying support has called down and works stock markets may consolidate at current levels. That will trigger a range bound trend and we will be back to watching resistance levels now.

Expect world stock markets to trade within their broader, monthly range. Intraday trading can remain highly volatile and the trend could fluctuate within daily pivot levels.

Local cues can influence intraday trend in absence of a strong global trend.

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US Stock Markets Today: Rally Losing Steam, Resistance Ahead

18 April 2018 (9:01 AM EDT)

Although U.S. stock futures are trading positive but the strength is lacking in today’s rise in these numbers. This indicates that U.S. stock markets face face resistance today.

European stock markets are also trading mixed. DAX (Germany) is actually trading negative.

Dow Jones future are some 80 points higher before the opening bell, but as we have been mentioning, the index has multiple resistance levels close-by such as  24, 900 and 25,029.

The index had retreated before reaching 24,900 yesterday and today’s positive opening could once again test this level.

Nasdaq and S&P 500 futures are moderately high.

Going by these pattern, it is possible that U.S. stock markets trade in a range bound manner in today’s session.

On weekly and monthly charts, a very strict range bound trend is obvious in these markets. Dow Jones faces weekly and monthly resistance near its current level and it should not surprise anyone that the index becomes slow paced and narrowly range bound now.

For intraday trading, pivot levels will be good help in finding out which support and resistance levels dominate today’s trend. For major U.S. indexes, these levels are given on our Pivot Trading page. Check those levels here also:

U.S. stock markets may see increased volatility which is a usual symptom of range bound trading pattern.

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Indian Stock Markets Today: Range Bound Trading Pattern, Bank Nifty in Focus

18 April 2018 (8:25 AM IST)

SGX Nifty is nearly 35 points higher at the time of writing but the trend in Indian stock markets may depend on how Bank Nifty trades.

As we had written yesterday, Nifty and Sensex have crossed above all their major Moving Averages which now provides them strong support. But Bank Nifty had stayed below its strong resistance of 25,411 which was stopping this index and broader Indian stock markets from going higher.

Today, it will be interesting to see if Bank Nifty can open with considerable gains and jumps above this resistance levels. If that happens, then one can expect more gains in this index and broader markets in near term.

However, if Bank Nifty opens near its previous high mar/ closing level then this index will remain range bound and will keep broader markets sluggish too.

Nifty has intraday pivot at 10,534. Support comes near lower levels of 10,509- 10,470-10,444 and resistance is expected near 10,574-10,599- 10,639 marks.

Pivot levels of other major stock indexes are given on our Pivot Trading page. Same are available here:

The intraday trend can remain volatile in Indian stock markets today.

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World Stock Markets Today: Mixed Trend Continues, Mostly Positive

18 April 2018 (8:07 AM IST)

17 April 2018 (10:37 PM EDT)

World stock markets have opened with mostly positive numbers in Asia after U.S. stock markets closed higher in their overnight session.

U.S. stock markets staged a breakout and traded positive in their last session. Although the intraday range was different for major indexes. Dow Jones rained in a narrow range while Nasdaq and S&P 500 had a comparatively larger range and gathers more gains after a gap up opening.

European stock markets had also rallied with U.S. stocks in their previous session.

Asian stock markets are following that positive trend and are mostly trading with green numbers. Only China markets are slightly negative on their local cues.

SGX Nifty had rallied with U.S. stock markets late at night and is still trading high with nearly 40 points gain. This indicates a positive opening in Indian stock markets too.

At the time of writing, U.S. and European stock futures are trading positive, indicating a support to these markets. Although the trading pace is slower at this hour.

World stock markets will continue to trade mostly positive. The trading range may remain different based on local cues.

U.S. stock futures will continue to lead the intraday trend in global stocks.

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US Stock Markets Today: A Positive Breakout and More Gains Ahead

17 April 2018 (8:44 AM EDT)

U.S. stock futures are rallying like crazy today and there is only one thing to say about their trading pattern today- this is how a major resistance is broken.

As we have been writing for many sessions now, U.S. stock markets have been inching up from their support levels, continuously making “higher lows” which signals an uptrend, but still, current resistance levels had been stopping major indexes from making a big dash ahead.

Today, a gap up opening is set to provide that expected big dash to major indexes, especially Dow Jones, and take U.S. stock markets towards their next and higher targets.

Dow Jones has been finding it difficult to breakout of its strong resistance zone between 24,500- 24,600. of 24,500. Yesterday, the index closed positive but within this resistance zone.

Today, Dow Jones futures are more than 200 points higher (and still climbing at the time of writing), indicating that this resistance zone is going to be clear with a parachute jump. Usually, that is how any strong resistance or support is broken when markets get fed up of a restricted trading pattern.

After that, if no negative political or otherwise event happens, Dow Jones will have next targets ope 24,930 and 25,330.

European stock markets are also rallying today and the leading European index, DAX (Germany) has moved above its last month’s high mark, which indicates that this index is also aiming for more gains in near term.

Day traders should still keep an eye on intraday support and resistance levels to see how the trend develops after a gap up opening. It can either continue to accumulate gains or turn range bound.

Pivot levels of major U.S. indexes are given on our Pivot Trading page. the same can be found here also:

Volatility levels may still remain high in U.S. stock markets and day traders should continue to watch for intraday dips and bounces from important support and resistance levels.

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Indian Stock Market Today: Choppy, Range Bound Trend Continues

17 April 2018 (8:23 AM IST)

SGX Nifty trading flat in its early session,  indicating that it is waiting for Nifty to open and decide on its intraday Trend.

Indian stock markets have been enjoying a long bounce back from support level and Nifty and Sensex have now crossed above their important moving averages, signaling strong support.

Only Bank Nifty is this still facing resistance near 24,411 level.  If this banking index jumps above this resistance than Indian stock market can continue with their current uptrend.

Till now, support levels have been stronger in Indian stock market compared to resistance levels.  In last many sessions, major indexes have found a strong support and have refused to go down below those levels.  Yesterday also, in spite of a very low opening, Nifty rose from it lower levels  and rallied to close with good gains.

Today also Indian stock markets are expected to trade within their current support and resistance levels. Global cues are still not trending in any direction, So Indian stock markets will continue to trade on their own.

For intraday trading, Nifty has pivot mark at 10,488. Above this level, the index will have more chances to trade positive and try to reach resistance levels of 10,580-10,632- 10,724. If Nifty trades below its pivot mark. then it can try to reach support levels of 10,436- 10,344-10,292. Nifty’s previous high and low marks of 10,540 and 10,396 will create its immediate trading range.

Pivot levels for major Indian stock indexes are given on our Pivot Trading page. Day traders can find those level on these links too:

The intraday trend will remain choppy in these stock markets.

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