23 March 2020 (8:40 am IST)
SGX Nifty had rolled over from March to April contract and that is showing 968 points cut. I’m not sure if Nifty will follow the exact numbers of this next month’s contract in SGX Nifty. So, we’ll have to wait and watch Nifty and Indian stock markets’ pre open numbers.
Even if Nifty falls with equal margin, the index will open near Thursday’s low mark. This big a fall will trigger a lower circuit and trading will be halted for 15 minutes.
We can expect a turbulent opening in Indian stock markets on global cues. But those cues are showing some recovery from earlier numbers and that can have a positive affect on other markets too. Dow Jones futures is now trading only 700 points lower while earlier this numbers was over 900.
That’s why day traders should be cautious and let markets cool down after the opening and then trade with the trend.
We have provided intraday pivot levels on our Pivot Trading page. 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 open with highly negative numbers but trade with volatility on global cues.