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Pre Open Nse Market Analysis for 9 Feb 23 shows persistence to move up, but also resistance to moving up.

Now Nifty is guarded with the 20 Day EMA which is a hard-stop resistance.


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1) Pre Open Nse Market Analysis for 9 Feb 23

Pre Open Nse Market Analysis for 9 Feb 23

  1. Look how Nifty has closed at the exact point of 20-day Ema.
  2. Though slightly the Ema has been crossed at Nifty closure, it still acts as resistance.
  3. Though the supports or widening, resistances are ample too.
  4. Since today is Thursday we will have a lot of volatility due to the weekly option expiry.
  5. It’s also worth to be noted that you are US markets have been very negative yesterday.


2) SGX Nifty Trend for Today on 9th February 2023:

Today on 9th Feb 2023 SGX Nifty is showing a 2 Point HIGHER move at around 7:20 AM when I am writing this article.

SGX Nifty Trend on the Live Chart denotes that the Indian Markets will react MIXED.

So Indian markets especially Nifty Trend Today would have a Volatile start.


3) World Market Analysis for 9th Feb 2023:

S&P 500: 46.14 (-1.11%)
NASDAQ: 232.9 (-1.83%)
Dow Jones: 207.68 (-0.61%)
Nikkei: 138.88 (-0.5%)

US markets are utter negative impacting Asian and in fact Indian markets. 


4) Nifty Supports and Resistances:

Nifty Supports: 17823, 17800, 17777

Nifty Resistances: 17862, 17900, 17948, 18017
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5) Pre Open Nse Market Analysis for 9 Feb 23 Conclusion:

Pre Open Nse Market Analysis for 9 Feb 23

  1. Many things to notice in NIFTY today. First of nifty has closed exactly around 20 days Ema.
  2. When the Nifty moves up the next day the US markets move down.
  3. Today is the options’ weekly expiry which means that volatility will be very high.
  4. When there is volatility there will be sporadic moves and most probably negative moves.
  5. Tho yesterday was a great positive day, there is a wick at the top showing that the bears showed their power a little bit yesterday.
  6. Nifty is showing great support at 17777, which means that Nifty will hold on to it for quite some time.
  7. Since today is a negative day because of US markets, we will see some negative poppin’ to Nifty.

All in all, today Nifty will see some Sporadic 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 NEGATIVE.

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