US Markets have closed in Red on Monday session; however, we can term US Markets as ending flat. Asian Markets are giving mixed performance; Nikkei is trading around 20+ points and has remained green throughout the session till now. However, Hang Seng has lost over 90+ points today. Indian Markets might respond accordingly in today's trading session.
If NSE opens and stays above 4466 levels for the first one hour, than we have tough resistance at 4533, 4629 and 4696 levels. In case, NSE open below 4466 and stays below this level for first one hour, then NSE has a Strong Support at 4370, 4304 and 4208 levels. Markets have been highly volatile with heavy volumes being traded yesterday, which offset the Asian Market performance. Heavy selling was noticed yesterday.
For Day Trading, it is advisable to maintain strict Stop Loss and remain in cash by end of trading session today.
Happy Trading!
Day Trading Analyst
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