Nse Pre Opening Price for 2 Mar 23 Shows Nifty can react positively too!
When Nifty is pushed too much, it retracts and reacts! So happened yesterday!
1) Nse Pre Opening Price for 2 Mar 23:
- Nifty in yesterday’s session, from the get-go of start, was above the Fibonacci retracement’s 100% level!
- That’s the power of support!
- The biggest fall of nifty has been recovered From the lows.
- The next level of resistance is about 300 points away.
- Will Nifty have a clear zone till 17682?
- Since US markets were mixed yesterday we will have a bit of a negative opening.
2) SGX Nifty Trend for Today on 2 March 2023:
Today on 2nd Mar 2023 SGX Nifty is showing a 68 Point LOWER move at around 7:36 AM when I write 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 2nd Mar 2023:
S&P 500: 18.76 (-0.47%)
NASDAQ: 103.55 (-0.86%)
Dow Jones: 5.14 (-0.02%)
Nikkei: 39.93 (-0.15%)
US markets were 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: 17381, 17353, 17259, 17196, 17098
Nifty Resistances: 17463, 17536, 17777, 17680, 17653, 17801,
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5) Nse Pre Opening Price for 2 Mar 23 Conclusion:
- A clean chart of nifty shows that the 17355 support level is a good stopping point.
- Momentum is down as it shows on MACD.
- EMAs are down and show a bit of negativity.
- Nifty is currently, in the triangle resistance, which means until it is broken, the highs are capped.
- Since SGX Nifty is negative today, we may definitely see the negative trend line affecting the Nifty move.
- Until we see Momentum on MACD, we may not be fully positive.
All in all, today Nifty will see some NEGATIVE 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 NEGATIVE.
Happy Trading and Happy Money Making!