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:
- Nifty is currently on the verge of decline.
- Though Nifty had a huge Momentum on the upside bears shorted it.
- Yesterday’s candle shows that Nifty has an equal hand with bulls and bears, because of the wick on the top and bottom.
- A negative Momentum candle has shown that Nifty has more potential of a fall.
- Until we see a closure above 17681 we may still have negative time.
- 17513 is support for Nifty which is also the Bollinger band.
- 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:
- Look at the Nifty futures 5 minutes chart.
- Yesterday Nifty had fixed highs and lows within 11 o’clock.
- The power of bears defines that any positive moves will be sold into.
- It’s likely that Nifty may take support at 17500 and bounce back.
- 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.
Happy Trading and Happy Money Making!