4 May 2017 (8:53 AM IST)
SGX Nifty is showing a volatile trading pattern, opening 10 points lower and now trading 10 points higher, indicating that Indian markets may also trade in a similar pattern.
Nifty has been strictly range bound in last three sessions; opening high and closing low; just like a box’s lid- flap goes up in the morning, and closes down in the last hour of trading.
For today’s trading, Nifty is again expected to remain range bound and trade with high volatility like previous few sessions. Pivot for Nifty is 9,318. Above this mark, resistance comes for Nifty near higher levels of 9339- 9366 or 9387.
If Nifty trades below its pivot of 9,318, then it may remain low and seek support near 9291- 9270 or 9243 (strong support).
Watch these levels and trade with the short term trend.
Good luck, enjoy the session!