20 September 2017 (8:15 AM IST)
Major Indian indexes traded in a narrow range yesterday. It looks like Nifty is trying to climb up but Bank Nifty’s major resistance (25,100) is stopping Nifty and broader Indian markets from climbing higher from current levels.
Today, SGX Nifty is mildly negative, indicating at a flat opening in India markets and a trading range within this week’s high and low, which is really does not give much room to indexes to move around.
Previous session’s high and low mark in Nifty will act as its immediate trading range. A much broader range will be mark by intra day pivot levels. For Nifty, this intra day pivot marl will be at 10152 and resistance will be at higher levels of 10174- 10201- 10223. Support is expected to come near lower levels of 10125- 10103-10076.
Watch these levels and trade with the short term trend.
Good luck, enjoy the session!