Nifty Pre Opening may be a bit scary following the fall on Friday.
Given the rains and the Asian markets, markets may open pale-faced.
Watch the Gist of Nifty Pre Opening Analysis:
1) Nifty Pre Opening Analysis for 12th Dec 2022:
- Nifty held the support on Friday with a great down move in the markets.
- As already mentioned on Friday’s support 18410 levels are great support where the Nifty tested the base!
- Since Technical Analysis levels show that the resistance at 18610 levels is furious.
- The directional movement indicator shows a deep-down move indicating more negativity.
- A downsizing of 200 points is a sign of reversal.
- The only hope is if 18410 levels are tested again, will the Nifty hold its base.?
2) SGX Nifty Trend for Today on 12th December 2022:
Today on 12th December 2022 SGX Nifty is showing a 43 Points LOWER move at around 7:10 AM when I am writing this article.
SGX Nifty Trend on the Live Chart denotes that the Indian Markets will react NEGATIVE.
So Indian markets especially Nifty Trend Today would have a NEGATIVE start.
3) World Market Analysis for 12th Dec 2022:
S&P 500: 29.13 (-0.73%)
NASDAQ: 74.17 (-0.64%)
Dow Jones: 305.02 (-0.69%)
Nikkei: 71.61 -0.26%)
Asian markets supported by the US markets are showing negativity but not huge negativity.
4) Nifty Supports and Resistances:
Nifty Supports: 18432, 18410, 18400, 18320, 18296,18200
Nifty Resistances: 18534, 18500, 18610, 18678
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5) Nifty Pre Opening for 12th December 2022 Conclusion:
- Friday’s down move gave us the opportunity to see a pullback in the markets.
- When Nifty shows a pullback from the highs for at least 61.8% levels in a Fibonacci retracement, only then we can consider it for the Fibonacci retracement drawing.
- From today itself the Fibonacci retracement may be drawn from the previous lows to the highs.
- Directional Movement Indicator is like a falling star that cannot board on par.
- A big fall of Nifty towards support shows it will not yet deport.
- Support oozes positivity but Asian markets ooze negativity.
All in all, today Nifty will see some negative moves backed by the Asian market’s DOWN TICK.
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Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.
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