8 August 2019 (9:11 am IST)
SGX Nifty is positive on global cues and Indian stock markets are showing positive numbers in pre-open trading, indicating a higher opening in these markets.
This will keep these markets rangebound within yesterday’s range levels. For Nifty, support is now at 10,800 and resistance near 11,000 mark.
For Intraday trading, range levels for major indexes are 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
Expect Indian stock markets to trade within this week’s high and low levels. Right now, the trend has turned range-bound on positive global cues, but the current downtrend is not over for these markets.
Day traders should watch cautiously if support levels are stronger or resistance, then trade with the short term trend within those levels.