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Pre Open Market Nifty Analysis for 8th Mar 23 Shows Exhaustion

by | Mar 8, 2023 | Nifty Trend Today | 0 comments

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Pre Open Market Nifty Analysis for 8th Mar 23 Shows Exhaustion due to 400+ points hike in 2 days.

Q) Why should pre open market NIfty be of any help to make money?
A) Because of the reason of creating a spark for the up move! When there is a big push momentum is sparked.
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1) Pre Open Market Nifty Analysis for 8th Mar 23:

Pre Open Market Nifty

  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. But the big resistance will push the Nifty down!
  6. We will see a big Pre open gap down today.

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2) SGX Nifty Trend for Today on 8 March 2023:

Today on 8th Mar 2023 SGX Nifty is showing a 130 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 8th Mar 2023:

S&P 500: 62.07 (-1.53%)
NASDAQ: 150.31 (-1.22%)
Dow Jones: 574.98 (-1.72%)
Nikkei: 70.68 (+0.25%)

US markets were utterly negative on Tuesday. So SGX Nifty is following the US markets. Indian markets also will react Negative following Global cues in the pre-open. 

 

4) Nifty Supports and Resistances:

Nifty Supports:  17681, 17643, 17536, 17463, 17381, 17353, 17259, 17196, 17098,

Nifty Resistances:  17777,  17801,
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5) Pre Open Market Nifty Analysis for 8th Mar 23 Conclusion:

Pre Open Market Nifty Analysis for 8th Mar 23

  1. Nifty has the Bollinger Band Median and a big sell-off at the top showing a downtrend in the short term.
  2. The trend lines show that Nifty has gained good support.
  3. However, the median of the Bollinger band is a great resistance.
  4. Now 17683 levels are acting as a great support.
  5. And 17753 is acting as a big resistance.
  6. If Nifty can make it above 17753 a clear path till 17940 is on the way.
  7. Likely today we may scale down to 17650 which is 20 days EMA!

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All in all, today Nifty will see some NEGATIVE moves in the beginning and may scale to support levels today.

Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.

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