20 March 2019 (9:12am IST)
Indian stock markets have been in a strong uptrend this month, after breaking out of a narrow range.
Nifty’s RSI is touching now 80 in the overbought region and a technical correction is waiting to happen in this index. That is why intraday volatility has increased in this leading index of Indian stock markets.
Day traders should be cautious and trade with minor support and resistance levels. These levels are given on our Pivot Trading page. For major India stock indexes, these levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Expect India stock markets to trade with choppiness and swing between intraday support and resistance levels. The long term trend in strongly positive for these markets, the short term trend could turn range bound.