11 October 2019 (9:00 am IST)
This week, Indian stock markets have turned range bound and have been trading up and down in alternate sessions.
After yesterday’s drop, today SGX Nifty is indicating a higher opening in these markets. That would create a weekly range-bound pattern for major indexes.
In rangebound markets, intraday support and resistance level are useful for trade entry and exit plans. These levels are given on our Pivot Trading page and are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Expect a choppy session in Indian stock markets. Nifty has shown support in yesterday’s session, even though Bank Nifty had gone down with considerable losses. For day trading, keep an eye on both support and resistance levels and whichever levels show strength, trade with the short term trend from that level.