14 June, 2021 (7:32 am IST)
SGX Nifty is indicating a lower opening for Indian stock markets today. These markets will receive wholesale inflations numbers later in the session. After a negative opening, these markets may trade sideways and see high volatility when the numbers are released.
How To Trade Nifty Today:
- Nifty is trading rangebound at its range top levels.
- This index refuses to fall or correct even more than one session.
- Today, Nifty is expected to open low, perhaps by 50 points.
- Going by Nifty’s recent trading patterns, the index may turn narrowly range bound while waiting for inflation numbers.
- Day traders should stay away from trading if Nifty trades sideways.
- Even after the inflation numbers are released, day traders should not jump in the trading ring blindly.
- Wait for the volatility to subside and trade only after that.
- Watch daily Fibonacci levels to know the support and resistance levels of Nifty.
Indian stock markets are expected to open low, trade slow initially, then become highly volatile when the inflation numbers are released. After that, these markets may take a directional trend.