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Nifty Pre Open Chart Analysis for 22 Feb 23 Shows Reason to Cheer because of Technical Analysis.

Nifty will hold onto supports and resistances, though markets are Down! That seems like a trap, Right? WRONG! Read On!
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1) Nifty Pre Open Chart Analysis for 22 Feb 23:

Nifty Pre Open Chart Analysis for 22 Feb 23

  1. Is Nifty so weak, the status is not able to hold on to support?
  2. The simple answer is the market is made up of push and pull.
  3. Without the hikes and trenches, the market is nothing.
  4. Nifty is holding on to 17801 as a good support level.
  5. Now that Nifty is down, we will have 20-day Ema as a great resistance.
  6. The market opened higher yesterday but still gave up its profits because of the 20-day EMA acting as resistance.

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2) SGX Nifty Trend for Today on 22 February 2023:

Today on 22nd Feb 2023 SGX Nifty is showing a 67 Points LOWER move at around 7:16 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 22nd Feb 2023:

S&P 500: -81.75 (-2.00%)
NASDAQ: 297.89 (-2.41%)
Dow Jones: 697.1 (-2.06%)
Nikkei: 410.53 (-1.49%)

US markets are down 2% and more in yesterday’s market. So SGX Nifty is outright Negative. Indian markets also will be negative following Global cues in the pre-open. 


4) Nifty Supports and Resistances:

Nifty Supports:  17801, 17777, 17680, 17653

Nifty Resistances: 17828, 17938, 17944, 17917, 17862, 18000, 18072, 18121, 18260, 18302,
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5) Nifty Pre Open Chart Analysis for 22 Feb 23 Conclusion:

Nifty Pre Open Chart Analysis for 22 Feb 23

  1. The nifty chart is a falling chart but still, there are ample supports that are guarding the market.
  2. You may see two intermediate supports, lending their shoulders to mark Nifty’s stay at support levels.
  3. It’s a matter of time till Nifty finds the right support and bounces back.
  4. We have broken the positive train line, which means a short term is negative.
  5. However, in today’s Market Nifty May raise from these levels.
  6. The Bollinger band is showing a tightening because the negativity is increasing.
  7. It now seems like Nifty has actually found the support to bounce.

All in all, today Nifty will see some NEGATIVE moves in the beginning and may scale to SUPPORT levels today.

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

Please let me know your thoughts about today’s nifty pre open chart analysis post in the COMMENTS below.
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