18 September 2018 (8:46 AM IST)
Indian stock markets are facing double trouble of falling rupee and negative global cues today.
Rupee has become rangebound and this can trigger choppiness in Indian stocks. SGX Nifty is indicating a slightly negative opening but after that, major stock index can either turn rangebound or continue to fall.
Day traders can take help of intraday pivot levels, provided on our Pivot Trading page, to see what trading levels provide support or resistance to Nifty and other major stock indexes. These levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Day traders should wait for markets to become stable after the opening volatile trading pattern. It will help them understand what kind of trading pattern and intraday trading range is taking shape. Once that becomes clear, day trading becomes easy.
Expect a choppy trading session in Indian stock markets today. The intraday trend can turn rangebound with yesterday’s trading range, or these markets can continue to trade lower.