4 August 2020 (8:23 am IST)
Indian stock markets collapsed yesterday, but SGX Nifty had recovered in the overnight session with US stock markets and this morning, this futures index of Nifty is trading 40 points higher.
If Nifty and broader Indian stock markets open positive then we can expect these to trade back within the previous day’s range; or continue to decline until the next support level.
We have provided 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 slightly positive. Right now, these markets are within a minor correction. We ‘ll have to wait to see if that correction is over and Indian stocks bounce back from support levels; or the minor downtrend continues.