Share Market Pre-Open Session for 21 Mar 23 Show Sucking Chart.
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1) Share Market Pre Open Session for 21 Mar 23:
- The rounding bottom on the Nifty shows that we may see a trend reversal.
- Now that we know 16989 is acting as a great support, Nifty is boys to hike till 17351 easily.
- Yesterday’s 150 points recovery From the lows shows that the support is great.
- Also, yesterday’s recovery marks the rise of bulls in action when the market is down.
- Now that negative trend line also is acting as a support.
- Global market turmoil is cooling off and the markets or poised for an up move.
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2) SGX Nifty Trend for Today on 21 March 2023:
Today on 21st Mar 2023 SGX Nifty is showing a 67.5 Points HIGHER move at around 7:45 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 21st Mar 2023:
S&P 500: 34.91 (+0.89%)
NASDAQ: 42.73 (+0.34%)
Dow Jones: 382.6 (+1.2%)
Nikkei: 388.05 (-1.42%)
US markets were positive on Friday. SGX Nifty is positive in the beginning now. Indian markets also will react Positively following Global cues in the pre-open.
4) Nifty Supports and Resistances:
Nifty Supports: 16991, 16955, 16855, 16771, 16747
Nifty Resistances: 17000, 17098, 17132, 17353, 17259, 17196, 17381, 17405, 17463, 17500, 17536, 17660, 17681, 17777
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5) Share Market Pre Open Session for 21 Mar 23 Conclusion:
- Now let us look at a new perspective of Nifty.
- The EMAs have cooled off, showing the market is cold.
- MACD is low, showing Momentum for Trend reversal which is not applicable.
- However, rounding bottom shows strength on the lower side of Nifty.
- The last three sessions have closed in red but have got a lot of support from the Bulls.
- Every session has been a great recovery From the lows, signaling a trend reversal.
- The wick on the lower side shows stronger bull power.
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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 POSITIVE.
Happy Trading and Happy Money Making!