20 January 2019 (8:37 am IST)
Last week, Nifty had closed almost at a similar level every day, near 12,350. In line chart, the index looks flat through the week. Other major indexes had had mixed closing through the week.
This volatile and range bound trading pattern will continue until Nifty breaks its range, either in up or down side.
For range bound markets, knowing intraday range levels is a benefit. We have provided these levels in 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
SGX Nifty is indicating a flat start for Indian stock markets. After that, the last week’s trading pattern could continue this week too. We’ll have to wait and see how Nifty behave in this session. Will this index continue to trade between 12,300- 12,360? Or, will it create any new range? We’ll get the answer of these question only be the end on this session.
The best trading strategy for Nifty will be using techniques to trade range-bound markets. These techniques involve buying near support and selling near resistance levels.