Pre Open Session In Nse for 13 Mar 23 Shows Shaken Confidence

Pre Open Session In Nse for 13 Mar 23 Shows Global Turmoil Glorfied.

Now that Silicon Valley Bank (SVB) did get closed, the markets have been spooked more.
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1) Pre Open Session In Nse for 13 Mar 23:

1. Nifty is truly taking it on the chin because of the Global turmoil.
2. Since Silicon Valley Bank got dissolved, Global markets are continuously down.
3. So Nifty is also down and taking good support at 100% of Fibonacci retracement levels.
4. You can see that we have three big supports holding the back of Nifty.
5. Today we may see more negatives and these supports may be tested again.
6. Nifty has a clear backing at 17355 which is likely to hold.

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2) SGX Nifty Trend for Today on 13 March 2023:

Today on 13th Mar 2023 SGX Nifty is showing an 80 Point LOWER move at around 7:18 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 13th Mar 2023:

S&P 500: 56.73 (-1.45%)
NASDAQ: 165.6 (-1.38%)
Dow Jones: 345.22 (-1.05%)
Nikkei: 464.68 (-1.65%)

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

 

4) Nifty Supports and Resistances:

Nifty Supports:   17405, 17381, 17353, 17259, 17196, 17098,

Nifty Resistances:  17463, 17500, 17536, 17660, 17681, 17777,  17801, 17939
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5) Pre Open Session In Nse for 13 Mar 23 Conclusion:

1. You may see that Nifty is clearly below the positive trend line.
2. The support at 17353 is about to kick in.
3. Since SGX Nifty is negative Indian Nifty also will be negative in the pre-opening.
4. So the supports will obviously be tested.
5. The levels of Bollinger bands also will actors support if tested.
6. Just with support and resistance, you can build your long-term wealth by trading.
7. Today it is likely that Nifty may take very good support at 17355 which is the 100% level of Fibonacci retracement.

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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 .

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