10 October 2019 (9:13 am IST)
Indian stock markets had a bounce-back rally from their range support levels (which we had given in our last post).
Today, these markets have opened negative on global cues, but the trend could remain rangebound within the previous trading range.
Markets could remain highly volatile as yesterday’s rally has brought major indexes close to resistance levels. However, day traders should be careful about support levels too and if Nifty starts trading above the previous high mark, then the rally will continue in Nifty and broader markets.
We have provided intraday pivot levels on our Pivot Trading page. Use these 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, Today is weekly Options expiry session for Bank Nifty and Nifty. This can add to the choppiness. For day trading, wait until markets have created an intraday trend. After that, simply follow that trend.