Pre Opening Session Shows Troubled Nifty with the highest level of Bloodshed!
Nifty is bent to bow to the pressure of US markets.
Watch Nifty Pre Opening Session Analysis for 6th Jan on a Video:
1) Pre Opening Session Analysis for 6th Jan 2023
- Looking at the negative trend line, we are seeing, its holding down.
- 20 day EMA is acting as a huge blanket not letting the Nifty rise.
- Supports are lesser, where as resistances are growing daily.
- Lower band of Bollinger should act as support, if missed then more fall is inevitable.
- Great support at 17816 will hold the markets for some time.
2) SGX Nifty Trend for Today on 6th January 2023:
Today on 6th Jan 2023 SGX Nifty is showing a 3 Points Lower move at around 7:47 AM when I am writing 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 6th Jan 2023:
S&P 500: 44.89 (-1.17%)
NASDAQ: 173.58 (-1.57%)
Dow Jones: 339.69 (-1.02%)
Nikkei: 130.69 (+0.51%)
US markets fall more than 1% meaning the markets are crazily resisting the hike of markets.
4) Nifty Supports and Resistances:
Nifty Supports: 17970, 17866, 17816, 17737
Nifty Resistances: 18000, 18068, 18124, 18159, 18206
GOOD READ: How To Choose The Best Option Strike Price For Landmark Success?
5) Pre Opening Session Analysis for Nifty on 6th Jan 23 Conclusion
- 20-Day EMA is acting as a resistance, with due persistence.
- Supports are skewed, but resistances are daily brewed.
- The negative trend line is acting like support for the falling market not to pay a hefty fine.
- Bollinger bands are skewing the reach of Nifty, while the bears keep their work doing!
- Though the deep lows are being bought into, the highs of the market are being trapped into.
All in all, today Nifty will see some NEGATIVE moves in the beginning and may scale to resistance levels today.
Considering the trends globally and Technical Analysis Nifty Trend Today will start POSITIVE.
Happy Trading and Happy Money Making!