6 September 2017 (8:18 AM IST)
SGX Nifty is indicating to a gap down opening in India markets today.
As we had been writing, the major Indian indexes have been range bound for almost three weeks now. Nifty and Bank Nifty are trading within their 20-50Day Moving Averages and a gap down opening will take these indexes back within that range.
Nifty still has strong support at 9,900 and is expected to open near that level. For intra day trading, Nifty pivot is at 9938. Below this mark, support comes near 9914- 9876- 9852 and resistance is expected near higher levels of 9976- 10000- 10038.
Global cues will dominate the trend in these markets too. So watch those cues and Nifty levels and trade with the short term trend which is expected to remain volatile and roam within the monthly range.
Good luck, enjoy the session!