21 May 2020 (8:03 am IST)
As we wrote yesterday, Indian stock markets are trading within the weekly trend.
Today, SGX Nifty is indicating a slightly negative opening for these markets. Nifty and Bank Nifty will also have their weekly Options’ expiry in this session. This may increase the volatility in markets.
The trend has been sideways in Indian stock markets, but Nifty has created a smaller range this week. Yesterday, Indian markets had surged in the closing hour on governments’s liquidity boost for NBFCs. Day traders should watch if yesterday’s closing uptrend resumes today or previous sideways trend continues.
For day trading, one can use pivot levels given on our Pivot Trading page. These technical levels are useful for range bound markets. The 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 slightly negative or flat. The over all trend could remain range bound and volatile.