14 November 2018 (8:42 AM IST)
Indian stock markets are expected to open higher today as rupee gets stronger against dollar. These markets are waiting for the RBI’s important meeting next week, where it will decide about the government’s orders of handing over 40% of the central bank’s reserve funds.
If the RBI succumbs to government’s pressure and hands over that huge amount of money, then obviously a chunk of it will find its way to stock markets and Indian markets will rally on this big liquidity infusion.
That is why Indian stock markets have been overlooking the fall in U.S. stock markets and have been rallying up after every decline.
This positive bounce is expected to continue till the RBI’s meeting net Monday.
Till then, day traders can expect a very choppy trend in these markets where global and local cues will keep major indexes choppy, unstable but finding support. Intraday pivot levels given on our Pivot Trading page can help day traders find these support (or resistance) levels for major stock indexes. Separately, these levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Expect a higher opening but choppy trading in Indian stock markets today. In short timeframes, these markets have been trending up and down, but in bigger timeframes,. then trend is still rangebound within an overall downtrend.