The sentiment of the global market will get reflected in indian market and hence affect the price movement. Since Asia market starts ahead of indian market, the overall situaltion of the asian market will be reflected in indian market, similarly the impact of the price movement in UK market will be reflected in indian market, so it is important to watch out the global market direction for intra day analysis.
Intraday price movement is driven by the market sentiment and the global market plays a major role to decide the market trend /movement of our market on a given day.
Indian market that opens at 9 am IST depends upon the prevailing market condition of its Asian peers like, Hongkong market, Singapore market etc., which would have opened taking the cue from the closing of US market. We can also see some change in the market trend in the Indian market after the open of European markets at 1.30 pm IST.
YES Since all markets are MACROSCOPICALLY driven by sentiments , the intra day trader has to pay attention to the global markets more precisely at least the
other Asian markets This is ,of course , only a crude way of hoping the movement of NIFTY market