8 April, 2021 (8:32 am IST)
Indian stock markets have been trading in a fixed range this week and have been highly volatile.
Today, Nifty and Bank Nifty will have their weekly Options’ expiry, which could increase the choppiness in these markets.
SGX Nifty is indicating a gap up opening in Nifty and broader markets, which can trigger a more than usual volatile opening session.
How To Trade Nifty:
- Check out Nifty’s weekly range and follow the minor trend within that range.
- Nifty is close to the top of this range so the index may face resistance after a gap up opening.
- It would be better to wait and watch for Nifty to create an intraday resistance or support level, then open trades from that level.
- If Nifty Falls from resistance; sell. If the index rises from support; buy.
- This is a simple strategy in stock markets but in the rangebound trend, it becomes very significant.
Indian stock markets are expected to open up with a gap, then trade sideways within the weekly trading range. Markets may stay highly volatile like other sessions of this week.