NSE Pre Open Data Analysis for 7th Feb 23 shows profit potential.
Why is the NSE index Nifty getting so volatile? Because of Hindenburg Report.
1) NSE Pre Open Data Analysis for 7th Feb 23
- Very evident where nse pre open data guides Nifty from here!
- Nifty is very shy of support, but the support zone will still push Nifty Up.
- Nifty wide swing in the last 2 days leads to a small sell-off.
- But the hard part is the inside candle, which is a negative trend continuation candle.
- EMA is playing a hard resistance.
2) SGX Nifty Trend for Today on 7th February 2023:
Today on 7th Feb 2023 SGX Nifty is showing a 72 Point HIGHER move at around 8:23 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 7th Feb 2023:
S&P 500: 25.42 (-0.61%)
NASDAQ: 108.85 (-0.87%)
Dow Jones: 34.99 (-0.11%)
Nikkei: 60.88 (+0.22%)
US markets were lower. But SGX Nifty is higher! Decoupling effect!
4) Nifty Supports and Resistances:
Nifty Supports: 17732, 17653, 17600
Nifty Resistances: 17777, 17875, 17900, 17959
GOOD READ: How Insurance Works in India to Save You From Financial Hassles?
5) NSE Pre Open Data Analysis for 7th Feb 23 Conclusion
- Support is serving the market well.
- The budget has given a boost to the market and hence great moves post-budget.
- 20 Day EMA is a concern. Since nifty is unable to cross it, we are still moving in a downtrend.
- Nifty these days are being supported in the deepest of downs by bulls.
- The true player is Bollinger bands, though down, it lends great support for Nifty to move higher.
All in all, today Nifty will see some POSITIVE moves in the beginning and may scale to resistance levels today.
Considering the trends globally and Technical Analysis Nifty Trend Today will start POSITIVE.
Happy Trading and Happy Money Making!