India Markets Today: Volatile, Range Bound Session Before RBI Policy

6 December 2017 (8:53 AM IST)

SGX nifty is trading highly negative, which indicates that India markets may open with negative numbers.

Nifty is expected to open near its previous low level, or slight higher than that level (10,069) which is its range support and 100-Day Moving Average support.

Later today, the Reserve Bank of India will declare its short term monetary policy, which may keep markets volatile as we say yesterday.

If Nifty and Bank nifty fall below their previous low levels, the the current short term negative trend will once again dominate markets.

However, if these major indexes find support from where they had bounced back yesterday, then we may see a sideways or range bound session in the early hours in India markets.

Nifty has intraday pivot at 10,111. Support is expected near lower levels of 10075-10032-9996 while resistance will come near 10154-10190-10233 mark.

Watch these levels and trade with the short term trend.

Good luck, enjoy the session!

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