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:
- Near the low of Nifty, we can see 3 supports.
- One of the negative trend lines, the second of the Bollinger bands, 3rd of 100% Fibonacci retracement.
- Though we had three supports Nifty still dived down!
- Always understand support is a zone, not an exact line.
- So Today Nifty is about to take on the bears and the positive is back.
- 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:
- We have very great support shouldering Nifty.
- Previous pit stops at 17322 and 17290, are lending very great support for Nifty.
- 20-day Ema is not lending any support or resistance at this point but has a very great blanket on Nifty.
- As we have reached the lowest point, it’s probable that Ema’s blanket may be taken head-on.
- We are guarded by very great support at 17355 which is the 100% Fibonacci retracement.
- 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.
Happy Trading and Happy Money Making!