18 February 2020 (8:53 am IST)
Indian stock markets were already in a downtrend and now, negative global cues will deepen their losses.
Nifty is expected to open near or below 12,000 mark. It can create opening volatility in the index and broader markets so day traders must not jump into the trading ring as soon as the opening bell rings.
Here are intraday range levels for day trading, available on our Pivot Trading page. These levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Indian stock markets could turn highly volatile in the early hours as these markets have had two consecutive highly negative session and today’s gap down opening will take Nifty into the oversold region. Technically, the index may try to recover somewhat so that the RSI is adjusted for the next round of selling.
Watch markets and trade cautiously.