11 January 2019 (9:18 am IST)
Indian stock markets have opened with positive numbers but the trend is mixed in major indexes. Nifty is strictly range bound while Bank Nifty is showing weakness in hourly charts.
Although both Nifty and Bank Nifty are still holding on to their current support levels of 10,800 and 27,500 respectively, a breach in these support levels could trigger a short term selling in Indian stocks.
Day traders can use pivot levels of major indexes, given on our Pivot Trading page, to decipher intraday trading range in these 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 and sideways trading pattern in Indian stock markets today, where major stock indexes will remain confined within this week’s trading range. Global cues could increase the volatility in these markets.