Pre Open Trade Session Analysis for 14 Mar 23 Show Triggered Nifty because of SVB Bank fall.
Will Nifty fall ever stop? We can’t tell until it recovers on the chart!
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1) Pre Open Trade Session Analysis for 14 Mar 23:
- The Fall of nifty is mostly triggered by the Silicon Valley Bank collapse.
- Yesterday market fell all the way from 17529 to the level of 17154.
- A 400-point collapse in nifty is mostly seen on result days.
- While Nifty is lacking support, we had to drag the support from the previous lows.
- The lower level of Bollinger bands has been touched showing that there is no respite of support.
- If Nifty could hold the support at 17132, only then the market can recover else more extensions of losses can appear.
- 17132 which is very near to the close of Nifty is the immediate support, below this weekend find 17098 as the next level support.
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2) SGX Nifty Trend for Today on 14 March 2023:
Today on 14th Mar 2023 SGX Nifty is showing a 29 Point HIGHER move at around 7:38 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 14th Mar 2023:
S&P 500: 5.83 (-0.15%)
NASDAQ: 92.89 (+0.79%)
Dow Jones: 90.50 (+0.28%)
Nikkei: 561.56 (-2.02%)
US markets were slightly negative yesterday. SGX Nifty is a bit positive. Indian markets also will react slightly positively following Global cues in the pre-open.
4) Nifty Supports and Resistances:
Nifty Supports: 17132, 17098, 16950, 16771
Nifty Resistances: 17405, 17381, 17353, 17259, 17196, 17463, 17500, 17536, 17660, 17681, 17777
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5) Pre Open Trade Session Analysis for 14 Mar 23 Conclusion:
- Since Nifty is at cusp of breach of supports, we can only find nefty holding 17132.
- If not there is more blood shed on Nifty.
- Nifty is about to enter the zone of three digit ending support at 17000 if 17132 does not hold.
- Look at the market yesterday, though Nifty was falling we could continuously make out where the Nifty is holding and then falling.
- This Hold and drop will give lot of profits to the traders like us.
- Finding supports and break of support, is very essential for making big bucks in stock market.
- So look for the ultimate stoppages in nifty and short the market when the Nifty breaches that support.
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All in all, today Nifty will see some POSITIVE moves in the beginning and may scale to support levels today.
Considering the trends globally and Technical Analysis Nifty Trend Today will start POSITIVE.
Happy Trading and Happy Money Making!