13 January 2020, (9:17 am IST)
Indian stock markets have opened with big gains and as we had written in our previous post, these markets are continuing with their pre-budget rally.
We had also written that Nifty had made a powerful “hammer” candlestick on weekly charts which signaled more gains ahead. True to that, Nifty and broader markets have started the new week with a gap-up opening with indicates more gains ahead if the closing is also highly positive.
You can use the pivot levels given on our Pivot Trading page for help in intraday trading. These levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Indian stock markets have broken out of their previous range and today’s closing could indicate if this breakout will sustain. A positive closing will be a good sign for this rally. But a negative closing will turn these markets range bound.