12 June 2019 (9:00 am IST)
Indian stock markets have become range bound and are trading with quite a bit of choppiness within their important support and resistance levels.
Nifty is now trading in a hundred-points’ range, between levels of 12,000 and 11,900.
It was seen yesterday also where Nifty found support and rose from 11,900, went up to touch 12,000 and immediately at that point, profit booking pushed this index down again.
As we wrote previously, day traders in Indian stock market should keep an eye on both support and resistance levels, and trade within these levels with the trendline.
We have provided intraday pivot levels on our Pivot Trading page. These levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Expect Indian stock markets to trade with high volatility and continue to trade sideways. This sideways range will be broken only if, and when, Nifty starts trading above 12,000. Till that Indian stock markets will continue to roam between their current range level.