Pre Market Opening Stock Prices for 3 Mar 23 Shows Support Play

Pre Market Opening Stock Prices for 3 Mar 23 Shows Support is not easily given up!

When technical indicators fall in place, the markets are supposed to fly!
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1) Pre Market Opening Stock Prices for 3 Mar 23:

1. Near the low of Nifty, we can see 3 supports.
2. One of the negative trend lines, the second of the Bollinger bands, 3rd of 100% Fibonacci retracement.
3. Though we had three supports Nifty still dived down!
4. Always understand support is a zone, not an exact line.
5. So Today Nifty is about to take on the bears and the positive is back.
6. When multiple supports are converging, Nifty is supposed to go up.
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2) SGX Nifty Trend for Today on 3 March 2023:

Today on 3rd Mar 2023 SGX Nifty is showing a 113 Point HIGHER move at around 7:26 AM when I write 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 3rd Mar 2023:

S&P 500: 29.94 (+0.76%)
NASDAQ: 106.3 (+0.89%)
Dow Jones: 341.75 (+1.05%)
Nikkei: 349.64 (+1.27%)

US markets were positive yesterday. So SGX Nifty is following the US markets. Indian markets also will react positive following Global cues in the pre-open. 

 

4) Nifty Supports and Resistances:

Nifty Supports:  17353, 17259, 17196, 17098

Nifty Resistances: 17381, 17463, 17536, 17777, 17680, 17653, 17801,
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5) Pre Market Opening Stock Prices for 3 Mar 23 Conclusion:

1. We have very great support shouldering Nifty.
2. Previous pit stops at 17322 and 17290, are lending very great support for Nifty.
3. 20-day Ema is not lending any support or resistance at this point but has a very great blanket on Nifty.
4. As we have reached the lowest point, it’s probable that Ema’s blanket may be taken head-on.
5. We are guarded by very great support at 17355 which is the 100% Fibonacci retracement.
6. It’s time that bulls take control and bears are pushed back.

All in all, today Nifty will see some POSITIVE 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 POSITIVE.

Please let me know your thoughts about today’s pre market opening stock prices analysis post in the COMMENTS below.
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