06 January 2020 (8:40 am IST)
Indian stock markets held on to their current support levels on Friday and did not fall much, disappointing retail traders who were hoping for making profits by a fall in the global stock markets.
These markets were perhaps finding support by the Indian Reserve Bank’s bond-buying program scheduled for today.
Whatever may be the reason, Nifty held on to its support of 12,200. Today, SGX Nifty is pointing to a lower opening in Nifty and broader stock markets, so we can hope Nifty to open again near its same support of 12,200.
Day traders in these markets should strictly follow the local trend because these markets are highly manipulative and that’s’ why Nifty keeps going up in spite of all negative factors.
Check intraday range levels on 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
Indian stock markets are expected to open low and trade with high volatility in the opening hour. These markets are trading near the range support levels, which can add to the volatility and keep these markets in a sideways trend.