10 December 2019 (8:49 am IST)
Indian stock markets traded in a thin range yesterday because major indexes are stuck between major support and resistance levels.
Nifty has a major resistance near 11,980, where it faces 20-Day Moving Average on daily charts. At the same time, the index has major support near 11,888. So the index is trading in this 100 points’ range and is expected to stay range bound until the upper or lower level is broken.
For day trading, you can use pivot 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
Expect Indian stock markets to trade in a range. The downside is bad economic reports and the upside is rumors of government action to provide relief to the business community.
Watch the charts and trade with the technical indicators. Those are the most reliable tools for day trading instead of any news or rumor.