Pre Opening Session Of Stock Market for 17 Mar 23 Shows Retention

Pre Opening Session Of Stock Market for 17 Mar 23 Shows Retention as it recovers from lows.

Now that Nifty has recovered from a fall of 150 points yesterday, we will see some sure-shot signs of recovery today.
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1) Pre Opening Session Of Stock Market for 17 Mar 23:

1. Nifty has shown a great sign of recovery with 150 points recovery From the lows in yesterday’s session.
2. 16950 is sure short support for Nifty.
3. Yesterday From the loss of 16850 the market required about 150 points.
4. Today being hit by the support at 16994 and 16950 markets are in recovery mode.
5. We have to now see if Mac D will turn positive after today’s positive move.

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2) SGX Nifty Trend for Today on 17 March 2023:

Today on 17th Mar 2023 SGX Nifty is showing a 109 Points HIGHER move at around 7:53 AM when I write 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 17th Mar 2023:

S&P 500: 68.37 (+1.76%)
NASDAQ: 330.07 (+2.69%)
Dow Jones: 370.98 (+1.17%)
Nikkei: 170.54 (+0.63%)

US markets were greatly positive yesterday. SGX Nifty is utterly positive in the beginning now. Indian markets also will react slightly positively following Global cues in the pre-open. 

 

4) Nifty Supports and Resistances:

Nifty Supports:  16955, 16855, 16771, 16747

Nifty Resistances:  16991, 17000, 17098, 17132, 17353, 17259, 17196, 17381, 17405,  17463, 17500, 17536, 17660, 17681, 17777
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5) Pre Opening Session Of Stock Market for 17 Mar 23 Conclusion:

1. Since Nifty has been in a negative downstream, if the negative trend line is broken then the positivity is back.
2. Today it is most likely will break the negative trend line on the higher side.
3. Nifty has clear winning support at 16950.
4. So will Nifty close above 17200 today?
5. It’s at least supposed to close about 17100 in today’s session to see more positivity back in the market.

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All in all, today Nifty will see some POSITIVE moves in the beginning and may scale to resistance levels today.

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

Please let me know your thoughts about today’s pre opening session of stock market post in the COMMENTS below.
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