Pre Open Trading Analysis for 15 Mar 23 Shows Shattered Nifty

Pre Open Trading Analysis for 15 Mar 23 Shows Nifty holding the running Baton.

Though Nifty is shattered, Nifty clearly is still holding to the branches of support.
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1) Pre Open Trading Analysis for 15 Mar 23:

1. Nifty is holding on to its dear life.
2. But where will this free fall end?
3. When Nifty starts falling it falls just like it’s lost its life.
4. Nifty Pre-open denotes that the market still will hold the technical support.
5. Look at the Nifty stop at 16991. Needless to say, support is a clear winner.
6. Bollinger’s band support is now a bit down but still will act as a support zone.

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2) SGX Nifty Trend for Today on 15 March 2023:

Today on 15th Mar 2023 SGX Nifty is showing an 84 Point HIGHER move at around 7:28 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 15th Mar 2023:

S&P 500: 63.53 (+1.65%)
NASDAQ: 276.72 (+2.32%)
Dow Jones: 336.26 (+1.06%)
Nikkei: 86.79 (+0.32%)

US markets were positive yesterday. SGX Nifty is positive too. Indian markets also will react slightly positively following Global cues in the pre-open. 

 

4) Nifty Supports and Resistances:

Nifty Supports: 17000, 16991, 16950, 16771

Nifty Resistances:  17098, 17132, 17353, 17259, 17196, 17381, 17405,  17463, 17500, 17536, 17660, 17681, 17777
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5) Pre Open Trading Analysis for 15 Mar 23 Conclusion:

1. Nifty Li needs a lot of baking from the support level.
2. Since Global markets are utterly positive Indian markets also will be positive today.
3. Look at the big negative trend line holding the Nifty back. This is a sign of a falling market.
4. However look at 16991 as the Fibonacci retracement, and how well the support has played its role.
5. Seems like the support at 16991 and 16950 will hold and push Nifty up to the north.

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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.

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