Nifty 50 Pre Open Today for 20 Feb 23 proves to return Pro Profits with Support and Resistance.
True to every support and resistance, you may see the resistance on Thursday and Support on Friday in action!
1) Nifty 50 Pre Open Today Analysis
- If you look at the charts, I have to speak nothing.
- My main Motto for this blog is to show the power of support and resistance.
- On Thursday Nifty stopped by resistance.
- In the Friday session, Nifty is held by support.
- This proves just by knowing the power of support and resistance, you can surely mint money.
- I have discussed more profit-making strategies in my book “The Basics of the Stock Market for Beginners“.
2) SGX Nifty Trend for Today on 20th February 2023:
Today on 20th Feb 2023 SGX Nifty is showing a 27 Points HIGHER move at around 7:19 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 20th Feb 2023:
S&P 500: -11.32 (-0.28%)
NASDAQ: 84.3 (-0.68%)
Dow Jones: 129.84 (+0.39%)
Nikkei: 1.76 (-0.01%)
US markets are slightly NEGATIVE Friday. Hence SGX Nifty is showing no influence from US markets and is positive and so will the Indian Nifty start be!
4) Nifty Supports and Resistances:
Nifty Supports: 17938, 17944, 17917, 17862, 17777, 17680, 17653
Nifty Resistances: 18000, 18072, 18121, 18260, 18302
GOOD READ: How Insurance Works in India to Save You From Financial Hassles?
5) Nifty 50 Pre Open Today analysis for 20th Feb 23 Conclusion:
- Look at the process of nifty supports.
- The trendline is landing very great support for Nifty.
- Since support is a zone Nifty is still holding on to the trend line.
- Nifty support at 17941 is greatly held in the Friday session.
- Nifty resistance at 18122 is greatly held in Thursday’s session.
- Great support at 17897 which is the 20-day Ema is holding the market tight.
All in all, today Nifty will see some POSITIVE moves in the beginning and may scale to SUPPORT levels today.
MUST-READ: The Basics of Stock Market for Beginners
Considering the trends globally and Technical Analysis Nifty Trend Today will start POSITIVE.
Happy Trading and Happy Money Making!