Pre Open Market Strategy Nse Analysis for 9 March 23 Respect Bulls

Pre Open Market Strategy Nse Analysis for 9 March 23 Got Support to respect bulls in action.

Q) Is it mandatory for bulls to clock their gains today too?
A) Bulls now have a firm hold on the lows. When the markets flow down, they gain momentum!
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1) Pre Open Market Strategy Nse Analysis for 9 March 23:

1. Look at the great support at 20-day Ema.
2. Now 17660 will act as a huge support.
3. The great support of 17683 at 78.6% Fibonacci retracement will also act as a huge support.
4. Though we have just closed above the median of the Bollinger band, we still will face resistance at the median.
5. Today we may still see a positive March on Nifty till 17800 levels.

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2) SGX Nifty Trend for Today on 9 March 2023:

Today on 9th Mar 2023 SGX Nifty is showing a 1 Point HIGHER move at around 7:46 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 9th Mar 2023:

S&P 500: 5.64 (+0.14%)
NASDAQ: 63.16 (+0.52%)
Dow Jones: 58.06 (-0.18%)
Nikkei: 174.95 (+0.62%)

US markets were slightly positive yesterday. 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:  17681, 17660, 17536, 17463, 17381, 17353, 17259, 17196, 17098,

Nifty Resistances:  17777,  17801, 17939
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5) Pre Open Market Strategy Nse for 9 Mar 23 Conclusion:

1. Nifty is all charged up with a great positive move of almost recovery of 200 points from the lows.
2. Now there are 3 supports holding the back of Nifty.
3. One is the positive trend line, the second is the 20-day Ema, and the third is the Fibonacci level of 17681 level.
4. When three supports back Nifty, there is no stopping a trip to the north.
5. The negative trend lines are acting as support for Nifty.
6. Previously 20 days Ema was a blanket of resistance, which has now turned to support.

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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.

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