NSE Pre Opening Session for 11 Jan 2023 shows a mixed session.
Is Nifty going back to tap the supports? Let’s see below.
Watch Nifty Pre Open Video Analysis Below:
1) NSE Pre Opening Session for 11 Jan 2023
- Nifty’s negative engulfing candle has shown that the market is turning negative.
- Though it was the FED comments which bought Nifty down, the negative support of 20-day Ema is not to be ruled out.
- When the market is supposed to fall any news can tumble the market.
- It’s white possible that Nifty may touch the support level at 17816.
- Though US markets were positive, we may see that the Nifty may not take positivity from it.
- Asian markets are mostly positive but the Indian market may turn negative.
2) SGX Nifty Trend for Today on 11th January 2023:
Today on 11th Jan 2023 SGX Nifty is showing an 18 Point HIGHER move at around 7:41 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 11th Jan 2023:
S&P 500: 27.16 (+0.7%)
NASDAQ: 97.33 (+0.88%)
Dow Jones: 186.45 (+0.56%)
Nikkei: 267.62 (+1.02%)
US markets were higher. So Indian markets may take positive cues today.
4) Nifty Supports and Resistances:
Nifty Supports: 17899, 17816, 17737
Nifty Resistances: 18068, 18124, 18159, 18206
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?
5) NSE Pre Opening Session for 11 Jan 2023 Conclusion
- Nifty may touch the supports again, meaning we may have more of pain rather than gain.
- The negative engulfing candle is a subtle indication of positivity unable to handle!
- 20 day Ema is acting as a great resistance, which is threatening the bull’s existence.
- Literally, resistances are a lot however today seems like the negativity will be bought.
- 17816 levels of support is a darling, however, if it is tapped into a lot, it may give up to the calling.
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!