25 March 2020 (8:51 am IST)
SGX Nifty is indicating a lower opening for Nifty and broader Indian stock markets on news that the Indian government has declared a 21 day lock down to fight the spread of coronavirus.
But after the opening, these markets can turn highly volatile as a Cabinet meeting will take place at 10 am IST to prepare a stimulus package.
We can expect a highly volatile day in these markets based on what stimulus is provided and whether markets like it or not.
In the meantime, day traders can consider intraday range levels given on our Pivot Trading page. Levels for major indexes are:
- Intraday Bank Nifty Pivot levels
- Intraday Nifty Pivot levels
- Intraday Nifty IT Pivot levels
- Intraday Sensex Pivot levels
Indian stock markets will open negative but based on the stimulus package provided by the government, these markets may rally later in the day or fall further.
Day traders would do better to wait for markets to settle down after the stimulus news, then trade with the trend.