15 November 2018 (8:52 am IST)
Indian stock markets have turned rangebound within a smaller range as rupee also trade between 73- 72 levels.
As we wrote previously, these markets are waiting or the RBI’s important meeting next ween and will take a trend only after that. Till then, even highly negative global cues will not affect these markets as much as usually they do.
Yesterday, Bank Nifty stayed a breakout and seemed tone embarking upon a positive trend but then Nifty fell with global cues and Bank Nifty also came down to close within its current range.
Day traders can use intraday pivot levels to trade such rangebound markets. We have provided these pivot levels for major Indian stock indexes on our Pivot Trading page. Individual index levels are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Day traders can take help of these levels to trade within specific intraday range and can trade in both directions with the short term trend.