Stock market pre open today chart for 22 Mar 23 shows support holding Nifty’s Back.
It’s damn right when I say, these 3 supports have held the market higher. I’ll reveal the supports below.
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1) Stock Market Pre Open Today Chart for 22 Mar 23:
- The great supports of 16950, 16858, and 16745, have held the back of nifty as a guard.
- The rounding bottom in Nifty is a sure-shot sign of an up Trend.
- Monday’s great recovery of 150 points shows that 16994 is a solid support which Nifty will not give up easily.
- The great wick on the low of the Nifty, shows we are headed for a bull spread.
- Now the negative trend line is very supportive of the Nifty moving upwards.
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2) SGX Nifty Trend for Today on 22 March 2023:
Today on 22nd Mar 2023 SGX Nifty is showing a 9 Points HIGHER move at around 7:05 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 22nd Mar 2023:
S&P 500: 51.3 (+1.3%)
NASDAQ: 178.83 (+1.42%)
Dow Jones: 316.02 (+0.98%)
Nikkei: 404.09 (+1.5%)
US markets were positive yesterday. 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: 17000, 17098, 16991, 16955, 16855, 16771, 16747
Nifty Resistances: 17132, 17353, 17259, 17196, 17381, 17405, 17463, 17500, 17536, 17660, 17681, 17777
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5) Stock Market Pre Open Today Chart for 22 Mar 23 Conclusion:
- Though MACD is not showing great Momentum there is a possible change in MACD.
- Thursday Friday and Monday wicks on Nifty show great bulls support. Meaning a lot of buying is happening on the lower side.
- Look how closely that 16855 support is guarded on Nifty.
- There is a double bottom at 16855 level showing a superb up move.
- We are heading towards the resistance level of 17200. Once we hit this we will have a bit of a sideways movement.
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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!