19 May 2020 (8:15 am IST)
Indian stock markets had breached their range support yesterday and fell with big losses on extended lock down and not enough economic stimulus measures.
Today, SGX Nifty is trading nearly 200 points higher with global stocks. However, it is not certain that Nifty and Indian stock markets will follow this high lead. Even if they do, it is doubtful that major stock indexes will sustain this gap up opening.
Basically, it will be a range bound session for Indian stock markets and yesterday’s big trading range could be in play today also.
We have give today’s intraday range 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
Indian stock markets are expected to open with a gap up, but after that, the trend may turn volatile. Day traders should watch how major indexes trade after the opening bell and decide their trading strategies based on the dominating trend.