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Pre Open Market Analysis for 6 Mar 23 Shows Over Confidence due to the technicals falling in place.

Look at Friday’s pre opening stock prices analysis, I’ve clearly mentioned when technical analysis falls in place Nifty has to go up!
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1) Pre Open Market Analysis for 6 Mar 23:

Pre Open Market Analysis for 6 Mar 23

  1. Nifty has had a troubled past, but now is blooming with confidence.
  2. The rise of nifty could only be stopped by 20-day Ema.
  3. After hitting the 20-day Ema Nifty is cracked down by 50 points.
  4. Again Nifty is on the way to cracking the 20-day Ema.
  5. Nifty is blooming with confidence like never before.
  6. We may see a big Pre open gap up today as well.

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2) SGX Nifty Trend for Today on 6 March 2023:

Today on 6th Mar 2023 SGX Nifty is showing a 65 Point HIGHER move at around 7:53 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 6th Mar 2023:

S&P 500: 64.31 (+1.62%)
NASDAQ: 245.94 (+2.04%)
Dow Jones: 387.4 (+1.17%)
Nikkei: 334.43 (+1.2%)

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


4) Nifty Supports and Resistances:

Nifty Supports:  17381, 17463, 17536, 17353, 17259, 17196, 17098

Nifty Resistances: 17643, 17681, 17777,  17801,
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5) Pre Open Market Analysis for 6 Mar 23 Conclusion:

Pre Open Market Analysis for 6 Mar 23

  1. Nifty is hiped by the 1.5% up move on Friday.
  2. Two negative trend lines denote that it’s now become support.
  3. The blanket of 20-day Ema which is acting as a big resistance has to be taken down with the style.
  4. Until we close about 20 day’s Ema Nifty will slide down.
  5. Since SGX Nifty and US markets both are positive, Nifty will definitely open Gap up.
  6. We have now crossed 3 resistance levels in just one day’s move.
  7. Nifty is short of 17681 as resistance to be cleaned.

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

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