16 January 2020, (8:48 am IST)
Indian stock markets have been trading in a narrow range this week. Especially Nifty has been slow-paced and sticking to the level of 12,300.
Today is weekly Options expiry for Nifty and Bank Nifty and we’ll have to wait and see if Nifty returns to a normal trading session.
In range-bound markets, pivot levels can be useful for spotting the trading range. We have provided these on our Pivot Trading page. For major indexes, these levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Going by this week’s trading pattern, Indian stock markets are expected to trade range-bound. For small day traders, such a narrow trading range is not good for trading because their profits will be zero and brokerage losses will be big. For such market conditions, the best trading strategy is to stay away from trading and wait for markets to return to any trend.