Nifty Advances 750 points in 8 Sessions. Is it time to Buy on 2nd Dec 2022?

Nifty Advances to an all-time high with 750 points gain in 8 Days.

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1) Nifty Advances to an All-Time High on 2nd December 2022

1. Now the Nifty index saw some real hard stress to stay higher.
2. Some smart money is withdrawn from the highs.
3. If you see the above 5 minutes chart, it is a continuous decline.
4. Nifty also faced a negative turn by breaking the trend.
5. Since the force of bulls was very strong the huge dips were bought into.
6. But Nifty isn’t a discount anymore.

 

2) SGX Nifty Trend for Today on 2nd December 2022:

Today on 2nd December 2022 SGX Nifty is showing a 60 Points LOWER move at around 7:24 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 2nd Dec 2022:

S&P 500: 3.53 (-0.09%)
NASDAQ: 11.83 (+0.1%)
Dow Jones: 194.75 (-0.96%)
Nikkei: 553.69 (-1.96%)

Negative was not the term we can use for US markets move yesterday. But with a tinge of negativity.

Asian markets are damn right negative due to the peak it has hit in the technical analysis.

 

4) Nifty Supports and Resistances:

Nifty Supports: 18678, 18602, 18534, 18500, 18432, 18400, 18296,18200

Nifty Resistances: 18881, 18855
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5) Nifty Advances for 2nd December 2022 Conclusion

1. It’s a Dangerous Outside Candle. It means the reversal of the TREND IS HERE.
2. Moreover, the outside candle is negative, which is the reverse of the TREND. Meaning bloodshed in the market.
3. We’ve exhausted the Bollinger resistance.
4. Asian markets are leading the pack and are outright negative.
5. The Japanese market is down 2%. SGX is down 0.7%.
6. When the technical levels of resistance are reached, the market starts correcting.
7. So it is today as the markets have started to decline.
8. Seems like Nifty Advances are about to be cut short.
9. Also, the 1.618 level of Fibonacci retracement resistance is like chili powder. You don’t have to go near to feel the hotness.

 

All in all, today Nifty will see some great positivity backed by Asian markets.

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

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