Nifty Pre Market Opening shows the nifty is just surviving to hold its stands.
Yesterday’s huge down move and the bulls pushing it back up is a sign that bulls may still have the back of nifty.
1) Nifty Pre Market Opening for 6th December 2022:
- Nifty Pre Market Opening shows support at 18600 backing the Nifty.
- Nearly a 120-point recovery yesterday was very special.
- A huge negative wick shows the impact on Nifty’s backing by bulls.
- However, US markets are in no way supportive.
- Yesterday US markets were hit by above 1.5% negative moves.
2) SGX Nifty Trend for Today on 6th December 2022:
Today on 6th December 2022 SGX Nifty is showing a 60 Points LOWER move at around 7:25 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 6th Dec 2022:
S&P 500: 72.88 (-1.79%)
NASDAQ: 207.46 (-1.73%)
Dow Jones: 482.78 (-1.4%)
Nikkei: 7.17 (-0.02%)
Asian markets are negative due to huge dips in US markets. A slight negative start for nifty pre-open can’t be ruled out.
4) Nifty Supports and Resistances:
Nifty Supports: 18678, 18602, 18534, 18500, 18432, 18400, 18296,18200
Nifty Resistances: 18758, 18881, 18855
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?
5) Nifty Pre Market Opening for 6th December 2022 Conclusion:
- Like it or not, Nifty is not giving up yet.
- Nifty is backed by huge support at 18600 – 591 levels.
- Nifty has touched the highs of Bollinger band meaning, the nifty has to technically go down.
- Directional movement is not showing signs of an up move.
- But yesterday’s close was a DOJI meaning, what happens today will determine the route of Nifty.
All in all, today Nifty will see some negativity backed by Asian markets.
Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.
Happy Trading and Happy Money Making!