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Pre Open Nifty Analysis gives you a glimpse as to why the market fell yesterday, which I mentioned in Friday’s Nifty Ceiling Reached post.

See when technicals peak, news also falls in place to make the highs or lows of the market.


1) Pre Open Nifty Analysis for 22nd November 2022

Pre Open Nifty Analysis for 22nd November 2022

  1. Well when a ball is thrown in the air, it has to come down. That is called Gravity.
  2. So it is in stock markets too, when the market peaks, it has to come down. Called profit booking.
  3. Also, if the market goes just high or just low, it’s like being dead. See the heartbeat pulse report, if it’s straight, you are dead.
  4. When the markets find a safe resting place called support, the markets stall and bounce back.
  5. Now that Nifty has fallen almost 200 points from its peak, are we going back up again? Let’s analyze this further.

MUST READ: Day Trading Explained for Novice Traders to Profit Consistently


2) SGX Nifty Trend for Today on 22nd November 2022:

Today on 22nd November 2022 SGX Nifty is showing a 44 Points HIGHER move at around 7:32 AM when I am writing 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 22nd Nov 2022:

S&P 500: 15.38 (-0.39%)
NASDAQ: 123.57 (-1.06%)
Dow Jones: 45.41 (-0.13%)
Nikkei: 215.38 (+0.77%

I had spoken about the decoupling effect in Nifty a couple of days back. See how it’s playing its cards in the session today.

Though US markets were down 1%, the Asian markets are brimming in positivity.


4) Nifty Supports and Resistances:

Nifty Supports: 18100, 18089, 18000

Nifty Resistances: 18178, 18200, 18296, 18376, 18410, 18499
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5) Pre Open Nifty Analysis for 22nd November 2022 Conclusion

Pre Open Nifty Analysis

  1. Nifty is very near to big support at 18089 which is a Fibonacci retracement level.
  2. The directional movement indicator is not showing many signs of support and is down.
  3. The trend line is broken and will be a resistance now.
  4. Asian markets have decoupled from US markets and are showing positive moves when US markets were down!
  5. Triple tops at 18410 levels have played great resistance levels.
  6. A hanging man has formed meaning the market is up for trend reversal.

All in all, today Nifty will see some positivity supported by Asian markets. But the support may be tested at 18089 levels.

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Considering the trends globally and Technical Analysis Nifty Trend Today is POSITIVE.

Please let me know your thoughts about today’s Technical Analysis of Nifty in the COMMENTS below.
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