Indian Stock Markets Today: Choppy Trend on Local, Gloabl Cues

18 April 2019 (9:16 am IST)

Although Indian stock markets have opened with positive numbers, it is difficult to say if this trend will sustain till the closing bell isbecause today is weekly options expiry sessions for Nifty and Bank Nifty and global cues are turning highly negative.

SGX Nifty is also trading negative in spite of a positive opening in the Indian stock market. This indicates a diversion between this futures index of Nifty and the Nifty index itself. Such divergence is indications of high volatility.

Indian stock markets will remain closed tomorrow for Good Friday with global markets and, even though the overall trend has become highly positive for these markets with this week’s positive break out, the intraday trend may remain choppy.

Day traders should wait for markets to establish a clear intraday trend and then trade with the short term trend, whether it is up or down.

We have provided daily pivot levels on our Pivot Trading page which will help day traders with intraday range levels. These levels for major stock indexes are:

Expect a choppy trend in Indian stock markets, where support and resistance levels will still keep their hold on price movement. Day traders should watch bigger time frame charts (such as 5 hours) to anticipate trend movement and then trade with the trend on smaller time frame charts.

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