16 April 2019 (8:35 am IST)
Indian stock markets have been trading positively this week and SGX Nifty is showing a continuation of that trend today.
But two holidays in this week (Wednesday & Friday) will keep Indian stock markets volatile and choppy. Markets volatility will also remain high due to the resistance levels of bigger timeframes. For example, SGX Nifty has a resistance of 11,770 in 5-hour chart and the index is finding it tough to cross above that level.
On the other hand, support is also visible in one hour and 15-minute charts, especially for Nifty. So, thie will keep the trend sandwiched between support and resistance levels. Profit booking may also come in at higher levels in the second half so day traders should remain cautious about intraday trading and trade with short time frames.
Our Pivot Trading page has provided daily pivot levels for day 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 choppiness and remain within last week’s range. This weekly sideways trend may last till the General Elections are over and results are announced.