Nse Pre Open Rates Analysis for 1st March 23 Shows No Restrain for Bulls.
This attitude shows how we have to react to the situation of a fall! I’ll show you this.
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1) Nse Pre Open Rates Analysis for 1st March 23:
- These days we are supposed to search for new support because all the old support has been exhausted.
- From the previous fall, we have three new supports.
- We have a lot of resistance now than support which is very good for investment in the long term.
- 17259, and 17196 are two of the great supports we can trust on.
- You can see that the negative train line has to be pears on the upper side for more up move.
- We are now at the mercy of bears, but day traders will surely make a lot of money with such a fall.
- We are still way away from the 17000 breaks. If we break 17000 on Nifty we may end up at 16700 levels.
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2) SGX Nifty Trend for Today on 1 March 2023:
Today on 1st Mar 2023 SGX Nifty is showing a 27 Point LOWER move at around 7:56 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 1st Mar 2023:
S&P 500: 12.07 (-0.30%)
NASDAQ: 15.67 (-0.13%)
Dow Jones: 232.39 (-0.71%)
Nikkei: 1.84 (-0.01%)
US markets are negative yesterday. So SGX Nifty is following the US markets. Indian markets also will react negatively following Global cues in the pre-open.
4) Nifty Supports and Resistances:
Nifty Supports: 17259, 17196, 17098
Nifty Resistances: 17381, 17353, 17463, 17536, 17777, 17680, 17653, 17801,
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5) Nse Pre Open Rates Analysis for 1st March 23 Conclusion:
- Negativity is lingering all over Nifty.
- The negative trend Line Showcases how tightly Nifty is gripped.
- We are almost 600 points away from the positive trend line, which means we have way too much leverage to fall.
- Though support lines are drawn and support zones are identified the real support may be held at 17000.
- Until we have the negative trendlines pierced and closed above, the negativity, in the Nifty may continue.
- The Bollinger bands are expanding heavily on the lower side, showcasing the power of bears.
- If 17200 level of support holds we may move above 17356 levels very easily.
All in all, today Nifty will see some NEGATIVE moves in the beginning and may scale to support levels today.
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Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.
Happy Trading and Happy Money Making!