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See I gave the title as Nifty Breaking Up Analysis for 17 Nov 2022 because there is something called as coupling and decoupling.

Indian markets were always following the western markets but now have decoupled with western markets.


1) Nifty Breaking Up Analysis for 17 Nov 2022:

Nifty Breaking Up

  1. Decoupling from western markets are good for Indian markets, meaning, there is more inflow of money.
  2. Be fearful when others are greedy theory by Mr. Warren Buffett is a thing to mind in such high levels of Nifty.
  3. Mr.Anant Acharya who is a market veteran has warned in money control interview that Nifty may fall to 15000 and then rally for 5 years.
  4. Though nifty ended so very slightly in the green, it was not triumphant.
  5. The directional movement indicator is going down, meaning the way to go is south rather than north.


2) SGX Nifty Trend for Today on 17th November 2022:

Today on 17th November 2022 SGX Nifty is showing a 63 Points LOWER move at around 7:34 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 17th Nov 2022:

S&P 500: 32.96 (-0.83%)
NASDAQ: 172.06 (-1.45%)
Dow Jones: 39.09 (-0.12%)
Nikkei: 58.17 (-0.21%)

US Markets and Asian markets are all in red, though Nifty has staggered strength, when trend reverses, all hells break lose!


4) Nifty Supports and Resistances:

Nifty Supports: 18376, 18300, 18296

Nifty Resistances: 18410, 18499, 18565
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?


5) Nifty Breaking Up Analysis for 17 Nov 2022 Conclusion:

  1. Support and resistance have not changed even a bit from yesterday because of a DOJI.
  2. Since yesterday’s close formed a DOJI in charts, it shows both bulls and bears have equal strength.
  3. Also, DOJI signifies that what happens today will outline the Nifty trajectory.
  4. The directional movement indicator shows that the strength in the UP trend is not sustainable or weakening.
  5. Nifty is at the top of Bollinger bands which shows we are near a fall in the market.
  6. Though technical analysis may not work 100% of the time, it’s quite possible that 80% of the time it’s true.
  7. Although we are showcasing the strength of regaining the lost points in Nifty, we are still having the global markets being unsupportive.

All in all, today Nifty will see some volatile moves as today is the weekly expiry of options.

MUST-READ: Can Day Trading Make You Rich For an Exhilarated Excuse-Free Life?

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

Please let me know your thoughts about today’s Technical Analysis of Nifty in the COMMENTS below.
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