Nse Nifty Pre Open for 24 Feb 23 Shows Signs of Short on Rise

Nse Nifty Pre Open for 24 Feb 23 Shows Short on rise scenario.

We may have a bear market in short term due to global turmoil.

 

1) Nse Nifty Pre Open for 24 Feb 23:

1. Nifty is currently on the verge of decline.
2. Though Nifty had a huge Momentum on the upside bears shorted it.
3. Yesterday’s candle shows that Nifty has an equal hand with bulls and bears, because of the wick on the top and bottom.
4. A negative Momentum candle has shown that Nifty has more potential of a fall.
5. Until we see a closure above 17681 we may still have negative time.
6. 17513 is support for Nifty which is also the Bollinger band.
7. The next support we are looking at his 17421 which is also the Bollinger band.

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2) SGX Nifty Trend for Today on 24 February 2023:

Today on 24th Feb 2023 SGX Nifty is showing a 41 Points HIGHER 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 POSITIVE.

So Indian markets especially Nifty Trend Today would have a POSITIVE start.

 

3) World Market Analysis for 24th Feb 2023:

S&P 500: 21.27 (+0.53%)
NASDAQ: 113.87 (+0.94%)
Dow Jones: 108.82 (+0.33%)
Nikkei: 334.01 (+1.23%)

US markets closed positive 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:  17500, 17463, 17351

Nifty Resistances: 17801, 17777, 17680, 17653, 17828, 17938, 17944, 17917, 17862, 18000, 18072, 18121, 18260, 18302,
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5) Nse Nifty Pre Open for 24 Feb 23 Conclusion:

1. Look at the Nifty futures 5 minutes chart.
2. Yesterday Nifty had fixed highs and lows within 11 o’clock.
3. The power of bears defines that any positive moves will be sold into.
4. It’s likely that Nifty may take support at 17500 and bounce back.
5. Also, 17423 is a very good support.

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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