30 March 2020 (8:22 am IST)
SGX Nifty is indicating a more than 200 points’ loss at open for Nifty and broader Indian stock markets.
This will mean, these markets will trade within the last week’s range. If, after the low opening, these markets continue to decline, the trend will be rangebound.
However, if Nifty and other major indexes try to recover after the lower opening, it will create a “higher low” on technical charts and hopes of a trend reversal will rise.
Here are the intraday range levels for major indexes, also given on our Pivot Trading page.
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Indian stock markets are set for a highly negative opening. After that, the trend may turn volatile on global cues.
For better day trading strategies, small traders should wait for markets to trade for some time and create an intraday trend. Follow that trend using technical indicators.