10 July 2020 (8:52 am IST)
Indian stock markets are waiting for a correction and trading range bound since the last four sessions.
As we wrote earlier, Nifty’s RSI has reached overbought zone and sooner or later, this index will have to correct couple of hundred points. On the other hand, the index can go on trading in a straight line till the RSI corrects. Once the RSI starts rising again, the price will also start climbing up.
Intraday range levels are good for trading range bound markets. We have provided such levels on our Pivot Trading page. Here are those levels:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Indian stock markets are expected to open negative. After that the intraday trend could be rangebound withing the previous range; or a minor correction will take place in Indian stocks.