Nifty Pre Open Analysis for 29th December 2022, shows the market has started to correct more.
Today’s market may show firecrackers all over the place and volatility surely will increase.
Watch Nifty Pre Open Analysis Video Walkover:
1) Nifty Pre Open for 29th December 2022
- The Nifty chart is pretty significantly showing that Nifty’s upside is capped.
- Though markets show some bounce, it’s unable to pierce the trend line.
- Fibonacci retracement support is pretty damn evident and is a darling of support.
- Bollinger band is narrowing meaning, we may be entering a sideways move.
- Until we close above 18159, we will not fly the north territory.
2) SGX Nifty Trend for Today on 29th December 2022:
Today on 29th December 2022 SGX Nifty is showing a 74 Points LOWER move at around 7:02 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 29th Dec 2022:
S&P 500: 46.03 (-1,02%)
NASDAQ: 143.17 (-1.32%)
Dow Jones: 365.85 (-1.1%)
Nikkei: 328.55 (-1.25%)
US markets were negative by over 1% yesterday which is a reason for today’s Singapore nifty loss.
4) Nifty Supports and Resistances:
Nifty Supports: 18100, 18070, 17816, 17637,
Nifty Resistances: 18159, 18200, 18269, 18411, 18428, 18611
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?
5) Nifty Pre Open for 29th December 2022 Conclusion
- Amazing to see that Nifty Bull tries so hard to Pull, but the Bear takes the share!
- The directional movement indicator is flat, which shows its thinking about how to bat!
- The trend line is showing a downward spiral, which means the market may be affected by this viral!
- True support is throwing strength, which is pushing nifty to go up any length.
- Yesterday’s close is a reverse hanging man pattern, meaning the nifty may see the negative turn!
All in all, today Nifty will see some NEGATIVE moves in the beginning, and more selling may be seen later.
Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.
Happy Trading and Happy Money Making!