Pre Opening Session Prices Analysis for 16 Feb 23 shows optimism back in play.
Read yesterday’s pre open analysis where I mentioned in the conclusion, though SGX Nifty is negative, we may still see positives on the board today. That’s the power of technical analysis.
1) Pre Opening Session Prices Analysis for 16 Feb 23
- The market was going helter-skelter on the downside when the bulls attacked and bought into every dip.
- Now SEBI and a Consortium of Supreme Court Judges will look into the allegations made by Hindenburg research on the Adani group.
- Many of Adani group’s stocks have been removed from the index, making way for more up move.
- Now Nifty has a free ride from 18160 to 18200 levels.
- Now the resistances are less and the supports are more for Nifty.
2) SGX Nifty Trend for Today on 16th February 2023:
Today on 16th Feb 2023 SGX Nifty is showing a 43 Points HIGHER move at around 7:17 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 16th Feb 2023:
S&P 500: 11.47 (+0.28%)
NASDAQ: 97.01 (+0.77%)
Dow Jones: 38.78 (+0.11%)
Nikkei: 204.43 (+0.74%)
US markets are POSITIVE yesterday. Hence SGX Nifty is +ve and so will the Indian Nifty start be!
4) Nifty Supports and Resistances:
Nifty Supports: 18000, 17938, 17944, 17917, 17862, 17777, 17680, 17653
Nifty Resistances: 18017, 18072, 18115, 18260
GOOD READ: How Insurance Works in India to Save You From Financial Hassles?
5) Pre Opening Session Prices Analysis for 16 Feb 23 Conclusion:
- Nifty futures has clearly given a great break from the levels of 17960.
- Now Nifty futures has a great breakthrough till 18115 levels.
- Nifty has more support and less resistance now.
- Buyer sentiment is back at a low level and the common investors have started putting in money.
- Yesterday’s Nifty futures move marks a new era of bulls attack.
- You can see at the beginning of the market 20 days Ema has been followed.
- But during the second session of nifty futures, the bond with 20-day Ema broke and the markets excelled higher.
- Now that Nifty futures are on the higher end of Bollinger bands, he has some side moves in today’s session.
All in all, today Nifty will see some POSITIVE moves in the beginning and may scale to RESISTANCE levels today.
Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.
Happy Trading and Happy Money Making!