17 January 2019 (9:12 am IST)
Indian stock markets have opened with mixed numbers in this session. Nifty continues to stay within its weekly trend while Bank Nifty is showing more weakness.
This whole week, Nifty has been strangely slow paced and traded in a narrow range. Yesterday, that range became a bit broader but 12,300 and 12,280 remained support and resistance of this index.
Today also, the sideways trend will continue if any of these levels are not broken.
For sideways trend, use support and resistance levels given 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
Indian stock markets are expected to trade in a mixed fashion with volatility. If Nifty trades in a narrow range, then day traders should stay away from trading and save their capital for the days when this index will trend in a big way; in any direction.