Indian Stock Markets Today: Low Opening, Volatile Intraday Trend

22 February 2018 (8:41 AM IST)

SGX Nifty is trading some -40 points lower in early trade and global cues are also negative. These factors indicate a gap down opening for Indian stock markets.

On technical charts, that would mean Bank Nifty and Nifty will fall below their 100-Day Moving average, which has been providing strong support to these indexes in last three session.

For Nifty and Bank Nifty, now their 200-Day Moving Average becomes important and strong support which will come near 3rd support of today’s intraday pivot levels.

You can check those pivot levels of major Indian stock indexes on our pivot trading page.

Indian stock markets also have their monthly Futures & Options expiration session today, which can add to the choppiness in markets.

Today, we can see two possible trend scenarios in Indian stock markets. A lower opening, then continuous lower trend. Or a bounce back after the low opening.

Day traders should keep an eye on intraday as well as major support and resistance levels of their chosen stock or index for trading.

For Nifty, intraday pivot is at 10,391 and support levels are near 10,356- 10,314-10,279. Resistance levels for intraday trading are near 10,432-10,467- 10,509 mark.

Indian rupee has touched 65 against USD today. That can also add to the pressure on Bank Nifty. Pivot levels for Bank Nifty are also given on pivot trading page; or check here:

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