20 November 2019 ( (9:25 am IST)
Yesterday, Nifty had bounced back from its day’s low levels, and rallied to close at the day’s high level. That was a very positive signal and following that signal, today Nifty opened at 12,000, but couldn’t sustain that level. This indicates a range bound trend in the index. Nifty has been trading in a broad range with minor up and down trend, within the same support and resistance levels.
Day traders should keep in mind these levels and trade with the minor trend. We have provided Delhi range levels on our Pivot trading page that can help in intraday trading.. 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 high volatility and remain range bound even after a higher opening. This range has been going on for the last 3 weeks. On weekly charts, Nifty is looking very strong, and seems poised for a breakout. Day traders must follow how market trade instead of trying to find any logic in these markets. Indian stock markets are highly manipulated and if these markets are trying to go higher, that means the inside news is good, even though the economic conditions are very bad.