19 September 2018 (8:48 AM IST)
Although SGX Nifty is hinting at a positive opening in Indian stock markets today, these markets will remain under pressure on rising crude oil prices, fallen rupee and global worries about trade war between China and the U.S.
Yesterday, Indian stock m markets had a sudden crash in the last trading hour when Brent Crude futures jumped above 79 and rupee fell with equally quick pace. Rising Crude Oil prices are an added worry against the Indian currency that was already under pressure on emerging market worries.
As we keep writing, any bounce back in these markets will attract fresh selling as the current trend is negative in Indian stocks.
Day traders can take help of pivot levels to see the support and resistance levels and plan their intraday trading. These levels are given on our Pivot Trading page. Separate index levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Wait for initial volatility to subside, then trade with the intraday trend which can remain choppy and rangebound initially. The long term trend is down in these markets.