3 April 2019 (9:48 am IST)
Finally, Nifty has broken out of its last year’s range and touched a new high in the opening session today. We have bee writing about this since this index broke out of its many-months range last month.
A high opening near range top level will create choppiness in markets so day traders should wait for markets to stabilize, then they can trade with the short term trend.
We have provided intraday pivot levels of major indexes on our Pivot Trading page. Watch these levels and decide for suitable trade entry near support or resistance level following the dominating trend. Thes levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
The long term trend is strongly positive for Indian stock markets but the intraday trend could turn volatile. Day traders should wait or the opening volatile to cool down and then start trading.