Markets have turned volatile after recovering from the day's low in afternoon trades. The Sensex is up 15 points at 17,599. Nifty is trading up eight points at 5348. Sensex ended (provisional) at 17,643 - up 59 points. Nifty ended up 19 points at 5,358.
Next week, on the back of the big event flow; and due to its uncertain results, Nifty could trade volatile with unclear trend. However, this may result in frustrating time for the day traders as the indecisive trend may create difficulties in their trading activity. In such a scenario, they are suggested to apply our trusted half an hour rule compiled with appropriate momentum indicators before taking a trading call on the indices. While, the swing traders and investors should follow a wait and watch strategy till Nifty violates the rage of 5,268 to 5,460 from the either side,`` said IDBI Capital.
``On the back of the strong international cues, our markets are expected to open on a positive note; while indices may trade volatile at current levels. However, any contrarian call will be covered during the trading sessions. Therefore, day traders are suggested to first take a clue from the initial half an hour range in Nifty and then trade accordingly in the direction of the breakout with strict stop loss. Intraday support levels are placed at 5,300 and 5,268 whereas the resistance levels are placed at 5,375 and 5,415.``
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