[HANG MAN] Nse Pre Open Market Price for 28 Feb Show Effects

Nse Pre Open Market Price for 28 Feb 23 Show Effects of Hanging Man close yesterday.

We’ll see continuity in drifting down! But How Much? I’ll reveal this in the analysis below.

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1) Nse Pre Open Market Price for 28 Feb 23 Show Effects

1. Downtrend continues as the trend line seeps all the efforts of going high.
2. Yesterday’s hanging man candle shows that the negative trend may continue.
3. But there are lots of positives that will hold Nifty up.
4. Nifty touch the 17353 support and retraced back.
5. Also Nifty touched the key support of Bollinger band.
6. So it’s quite possible that Nifty may upwards rather than downwards from here.

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2) SGX Nifty Trend for Today on 28 February 2023:

Today on 28th Feb 2023 SGX Nifty is showing a 1 Point LOWER move at around 7:58 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 28th Feb 2023:

S&P 500: 12.18 (+0.31%)
NASDAQ: 88.14 (+0.74%)
Dow Jones: 72.17 (0.22%)
Nikkei: 116.19 (+0.42%)

US markets are slightly positive yesterday. So SGX Nifty is slightly positive. Indian markets also will react positively following Global cues in the pre-open. 

 

4) Nifty Supports and Resistances:

Nifty Supports:  17381, 17353

Nifty Resistances: 17463, 17536, 17777, 17680, 17653, 17801, 17828, 17938, 17944, 17917, 17862, 18000, 18072, 18121, 18260, 18302,
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5) Nse Pre Open Market Price for 28 Feb 23 Show Effects Conclusion:

1. Nifty is down 900 points from its recent peak.
2. Is it time that Nifty heads North now because of double support?
3. Nifty is shouldered by 17353 which is the fib retracement and 17326 which is the bollinger support.
4. Seems like the Hanging man is showing a reversal sign on the top because of Huge wick on the bottom shows the bulls Back in Action.
5. Only time may tell if Nifty may reverse today or continue its action on the downside.

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All in all, today Nifty will see some POSITIVE moves in the beginning and may scale to RESISTANCE levels today.
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Considering the trends globally and Technical Analysis Nifty Trend Today will start POSITIVE.

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