Nifty Past 17500 Today? Pre Open Analysis for 19th October 2022

Nifty showed a roaring start above the support levels and showed resilience to settle there!

Now that 17425 which is the median resistance taken out in the opening, where will Nifty stand now?

 

1) Nifty Technical Analysis above 17425

1. The levels of 17425 as resistance is taken off.
2. The Bollinger band is acting as a suport.
3. Even the Fibonacci restracement is acting as a support.
4. But yesterday the highs did not stay high. Almost half of the gains are wiped out.

 

2) SGX Nifty Trend for Today on 19th Oct 2022:

Today on 19th October 2022 SGX Nifty is showing a 17 Point HIGHER move at around 7:49 AM when I am writing this article.

SGX Nifty Trend on the Live Chart denotes that the Indian Markets will react POSITIVE.

So Indian markets especially Nifty Trend Today would have a POSITIVE start.

 

3) World Market Analysis for Oct 19, 2022:

S&P 500: 42.03 (+1.14%)
NASDAQ: 85.2 (+0.77%)
Dow Jones: 337.98 (+1.12%)
Nikkei: 193.02 (0.71%)

US Markets are showing a positive UP Move 1% and higher and showing support which is a good sign for the market to move up.

 

4) Nifty Supports and Resistances:

Nifty Supports: 17425, 17415, 17300

Nifty Resistances: 17500, 17532, 17572
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?

 

5) Nifty Above 17425 for 19th October 2022 Conclusion:

1. Great world markets hike shows positivity.
2. Nifty grabbed 400 points in 2 days.
3. Resistances are cutting short.
4. Ups are mounting.
5. Negativity in the world is slowing down.
6. Technically lots of support and little resistance far away.
7. Nifty is above 20 Day EMA which means more positive to the market Up move.

All in all, Great UP MOVE is definitely on the cards today.

MUST-READ: Can Day Trading Make You Rich For an Exhilarated Excuse Free Life?

Considering the trends globally and Technical Analysis Nifty Trend Today is POSITIVE.

Please let me know your thoughts about today’s Technical Analysis of Nifty in the COMMENTS below.
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