13 March 2019 (9:23am IST)
Indian stock markets have been rising in a straight line since a range breakout earlier this week. Today, these markets are taking a breather in early trading hours.
These markets are now in along term uptrend, which is good for positional trading. Traders can look for taking positions near support levels. The intraday trend could turn range bound and choppy as markets pause for a breather.
Traditionally, Indian stock markets usually rally before general elections and this breakout has also happened after the Indian Election Commission declared the upcoming poll schedule.
So, watch the support levels and trade with the long term trend. You can find broader support levels on our Pivot Trading page. For major stock indexes, these levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Expect a choppy short term trend in Indian stock markets today. The long term trend has turned positive for these markets.