22 December 2017 (8:41 AM IST)
Market trend in India has been sideways after a huge surge of volatility on Monday. As we have been writing for many months now, Indian stock market trend analysis shows that Nifty and Bank Nifty are showing different trends. Nifty is more enthusiastic about going higher while Bank Nifty, the banking sector index, is being pressurized by negative factors such as monstrous non-performing asset problems.
Overall, this week sideways and slow paced trend has dominated these markets and today Indian stock markets can also see a similar pattern. Major indexes are expected to trade in their previous range. Nifty has intra day pivot at 10,447. Support comes below this mark, near 10,420-10,400-10,373 levels while resistance is expected near higher levels of 10,467-10,494-10,514. In range bound markets, these levels prove to be important day trading tools. You can check these levels for other major indexes here; or if you are lazy, you can also find those here:
Watch these levels of your chosen index and trade with the short term market trend. Good luck, enjoy the session!