Nifty Pre Opening Technical Analaysis for 12th December 2022

Nifty Pre Opening may be a bit scary following the fall on Friday.

Given the rains and the Asian markets, markets may open pale-faced.

 

Watch the Gist of Nifty Pre Opening Analysis:

 

1) Nifty Pre Opening Analysis for 12th Dec 2022:

1. Nifty held the support on Friday with a great down move in the markets.
2. As already mentioned on Friday’s support 18410 levels are great support where the Nifty tested the base!
3. Since Technical Analysis levels show that the resistance at 18610 levels is furious.
4. The directional movement indicator shows a deep-down move indicating more negativity.
5. A downsizing of 200 points is a sign of reversal.
6. The only hope is if 18410 levels are tested again, will the Nifty hold its base.?

 

2) SGX Nifty Trend for Today on 12th December 2022:

Today on 12th December 2022 SGX Nifty is showing a 43 Points LOWER move at around 7:10 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 12th Dec 2022:

S&P 500: 29.13 (-0.73%)
NASDAQ: 74.17 (-0.64%)
Dow Jones: 305.02 (-0.69%)
Nikkei: 71.61 -0.26%)

Asian markets supported by the US markets are showing negativity but not huge negativity.

 

4) Nifty Supports and Resistances:

Nifty Supports: 18432, 18410, 18400, 18320, 18296,18200

Nifty Resistances: 18534, 18500, 18610, 18678
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5) Nifty Pre Opening for 12th December 2022 Conclusion:

1. Friday’s down move gave us the opportunity to see a pullback in the markets.
2. When Nifty shows a pullback from the highs for at least 61.8% levels in a Fibonacci retracement, only then we can consider it for the Fibonacci retracement drawing.
3. From today itself the Fibonacci retracement may be drawn from the previous lows to the highs.
4. Directional Movement Indicator is like a falling star that cannot board on par.
5. A big fall of Nifty towards support shows it will not yet deport.
6. Support oozes positivity but Asian markets ooze negativity.

All in all, today Nifty will see some negative moves backed by the Asian market’s DOWN TICK.

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

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