13 December 2017 (9:02 AM IST)
India markets have been presenting a classic example of range bound trading pattern in last few weeks. Major indexes continue to trade up to certain resistance levels, then turn down and trade lower till certain support levels, then trade up again.
In last few sessions, these markets saw a bounce back form rage support levels and yesterday, that bounce back ended and major indexes reversed their trend from their important resistance levels.
This trend is expected to continue at least till previous rage support levels. Global cues are negative, India’s inflation numbers came higher yesterday, which may put pressure on banking sector.
Nifty has intra day pivot at 10,265. Support is expected near lower levels of 10,-10,169-10,108 and resistance is expected near higher levels of 10,300-10,361-10,396.
Watch these levels and trade with the trend, which is expected to remain volatile and probably negative on global cues.
You can get pivot levels of all major India indexes here:
Good luck, enjoy the session!