8 September 2017 (8:17 AM IST)
Major Indian indexes have been strictly range bound in last few weeks. As usually happens in range bound markets, the trading pattern becomes highly volatile due to restricted price movement between support and resistance levels.
A similar range bound and choppy session is expected today. Nifty has a trading range between 10,000- 9,800 and has been trading in the upper side of this range. SGX Nifty is positive but global cues are negative so it can result in another “high open, low closing” pattern as we saw in India markets yesterday.
For intra day trading, Nifty pivot is at 9937. Above this mark, resistance comes near 9957- 9984-10005 and support comes near lower levels of 9909- 9889- 9862.
Watch these upper and lower levels and follow the short term trend within these Nifty marks.
Good luck, enjoy the session!