10 January 2019 (9:31 am IST)
Indian stock markets were trading range bound yesterday and after an initial low trading pattern, major indexes were starting to rally when a news about Yes Bank pushed Bank Nifty and other indexes down with sudden crash.
Although Bank Nifty and broader markets recovered from that short-lived steep fall and closed positive, but the investor confidence was shaken and today, these markets have turned negative near their current range resistance levels as global cues also become shaky.
Day traders can expect a lot of such sudden, volatile moves in these markets as earning season starts. For day trading, it would be better to look for short duration trades and quick exits in these circumstances.
We have provided intraday pivot levels for major indexes 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
Use these levels to spot intraday support and resistance levels and trade with the short term trend within those levels. The intraday trend in these markets can remain highly volatile and mostly rangebound within this week’s trading range.