07 January 2020 (8:50 am IST)
Following the global cues, Indian stock markets are also expected to open with a gap up. With yesterday’s long fall, these markets had reached the oversold region and the RSI indicator was going to trigger a recovery sooner.
The opening session will bring improvement to the RSI levels and also bring major indexes within the trading range of yesterday. So, we can assume that whatever happens, these markets will trade range-bound in today’s session.
We have provided intraday pivot levels on our Pivot Trading page. For major indexes, these levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Expect Indian stock markets to trade with choppiness and follow global cues. Day traders should follow the minor trend and trade with the help of technical indicators.