Nifty Ceiling Reached for 18 November 2022 showing the fall is almost up here!
The high of 23.6% on the highs have acted as resistance.
1) Nifty Ceiling Reached for 18 November 2022
- As I mentioned the resistance at 18410 has shown its true colors.
- The Nifty index shows the falling level now has a triple top meaning great resistance.
- The directional movement indicator is acting on the south.
- The trend line is above the market now.
2) SGX Nifty Trend for Today on 18th November 2022:
Today on 18th November 2022 SGX Nifty is showing a 57 Points HIGHER move at around 7:51 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 18th Nov 2022:
S&P 500: 12.23 (-0.31%)
NASDAQ: 22.23 (-0.19%)
Dow Jones: 7.51 (-0.02%)
Nikkei: 51.81 (+0.19%)
US markets had lesser negativity, hence Asian markets are positive today.
4) Nifty Supports and Resistances:
Nifty Supports: 18326, 18300, 18296
Nifty Resistances: 18376, 18410, 18499
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?
5) Nifty Ceiling Reached for 18 November 2022 Conclusion:
- Nifty has reached the triple top at 18410 levels.
- Huge resistance at the 18410 levels.
- Another DOJI has formed, but it’s a gravestone Doji, meaning the Bears have a higher hand.
- Today Asian markets have a higher hand, so it’s possible we may hit resistance again today.
- Also, the greatness of decoupling is that US markets may fall or rise, but Indian markets are not influenced by it.
- The trend line is broken on the bottom, but it may be a one-off or the official Up trend has shortly reversed.
- If the trend line is not broken above today, the possibility is that this is the start of the fall towards 16750 levels.
- The directional movement indicator is falling towards the south meaning a fall in the trend or signs of reversal.
All in all, today Nifty will see some good moves as the weekly expiry of options is done yesterday and the market will have stability.
Considering the trends globally and Technical Analysis Nifty Trend Today is POSITIVE.
Happy Trading and Happy Money Making!