Indian markets Today: Volatile, Range Bound Session

22 May 2017 (8:40 AM IST)

Indian markets have till now saved their uptrend and major indexes have been range bound withing that uptrend in spite of weak global sentiments.

Nifty and Bank Nifty have been bouncing back form their support levels after every drop, and yet, have been restricted by resistance levels last week. This range bound pattern is expected to continue in Indian markets today.

For intra day trading in Nifty, the index has pivot mark at 9,441. Above this level, resistance may come near 9492- 9556 or 9607 levels.

Below the pivot mark of 9,441, Nifty has support near 9377-9326 or 9262 level. The index is expected to trade within the boundary of these levels.

Pre-open numbers are indicating a higher opening in Indian markets today. Watch how markets behave after the positive open, then follow the short term trend.

good luck, enjoy the session!

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