28 August 2017 (9:09 AM IST)
As we have been writing previously, in India markets, Nifty and Bank Nifty are trading within their 20 and 50- Day Moving Averages.
This creates a new and smaller trading range for these indexes which will be broken only when the indexes start trading above or below those MAs.
For intra day trading in Nifty, pivot mark is at 9862. Nifty has a current trading range between 9900- 9800 levels, marked by its major Moving Averages. The index will see intra day resistance near – 9876- 9895-9908 levels and support will come near 9843- 9829-9810 levels.
Watch how Nifty trades near these levels and trade with the shortchanged term trend.
Good luck, enjoy the session!