Nifty Technicals for 21 November 2022 show a dire need to realize how important technical analysis is.
Though the highs are achieved and lows are rekindled, supports and resistances play huge roles.
1) Nifty Technicals for 21 November 2022
- Though the huge apocalypse of downs till 18209 is scaled to close 100 points higher, we are still at risk of drop.
- Look at the trend line, we see a heck lotta room to scale.
- The directional Indicator is drop dead down.
- Triple tops at 18410 levels indicate we are up for a good fall.
2) SGX Nifty Trend for Today on 21st November 2022:
Today on 21st November 2022 SGX Nifty is showing a 48 Points LOWER move at around 7:21 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 21st Nov 2022:
S&P 500: 18.78 (+0.48%)
NASDAQ: 0.16 (+0.00%)
Dow Jones: 199.37 (+0.59%)
Nikkei: 22.06 (-0.08%)
I had spoken about the decoupling effect in Nifty a couple of days back. See how it’s playing its cards in the session today.
Though US markets are positive on Friday’s session closing, Asian markets are negative. Meaning the decoupling effect is in full swing.
4) Nifty Supports and Resistances:
Nifty Supports: 18296, 18178
Nifty Resistances: 18376, 18410, 18499
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?
5) Nifty Technicals for 21 November 2022 Conclusion:
- We see a dip in the trend line.
- Also a dip from the triple tops.
- Asian markets are negative.
- The Directional Movement indicator is dropping down.
- Supports are nearby and are good supports who have proven their stances.
- We’ve scaled back from the drop dead negative to slightly negative on Friday proving the hand of supports and bulls.
All in all, today Nifty will see some good moves as today is the start of the week. Though markets may open negatively, we may not see negativity last much.
Considering the trends globally and Technical Analysis Nifty Trend Today is SIDEWAYS TO POSITIVE.
Happy Trading and Happy Money Making!