Nifty Pre Open Market Today Analysis for 23 Feb 23

Nifty Pre Open Market Today on 23 Feb 23 Shows a Dead Cat Bounce.

Meaning after a stupendous and tedious low tide, the Nifty will bounce higher. Today is such a day.
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1) Nifty Pre Open Market Today Analysis for 23 Feb 23

1. Nifty has drug to the lowest level of support at Bollinger band.
2. No support at 17777 or 17683 could hold Nifty fall.
3. Since today we have touched the lowest level we will see a dead cat bounce.
4. Because of the Dead cat bounce Nifty may touch 17683 levels.
5. Nifty is below the negative trend LINE which means that the market has short-term negativity.

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2) SGX Nifty Trend for Today on 23 February 2023:

Today on 23rd Feb 2023 SGX Nifty is showing a 59 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 23rd Feb 2023:

S&P 500: -6.29 (-0.16%)
NASDAQ: 5.97 (-0.05%)
Dow Jones: 84.5 (-0.26%)
Nikkei: 368.78 (-1.34%)

US markets are down slightly in yesterday’s market. So SGX Nifty is positive. Indian markets also will be positive following Global cues in the pre-open. 

 

4) Nifty Supports and Resistances:

Nifty Supports:  17546, 17463

Nifty Resistances: 17801, 17777, 17680, 17653, 17828, 17938, 17944, 17917, 17862, 18000, 18072, 18121, 18260, 18302,
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5) Nifty Pre Open Market Today 23 Feb 23 Conclusion

1. Look at the second image. This is the profit that my simple future trading strategy made of 78 points yesterday.
2. Nifty has reached the lowest level of the Bollinger band.
3. This is the fastest route for Nifty going upwards.
4. This is called a dead cat bounce.
5. When the market actually reaches the lowest point, all of a sudden the support pushes the market upwards.
6. The support at 17546 is unlikely to be broken.

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

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

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