Stock Market Pre Opening Session for 13 Feb 23 creates a reoccurring pattern 2nd time.
Dojis in the market means what happens next decides the move. Now we have 2 continuously!
1) Stock Market Pre Opening Session for 13 Feb 2023
- Nifty has formed to continuous patterns of Doji, meaning the market condition is decided today.
- 20-day Ema is standing as a Steve resistance for the market.
- The bulls are pushing to the eyes bears are all over there to take opportunities for selling.
- Nifty is clearly holding to the up-trending trend line, meaning we have a good uptrend still intact.
- I hope Nifty doesn’t allow the uptrend line support to be lost today.
- Because both SGX Nifty and US markets have not been that support for the up move today.
2) SGX Nifty Trend for Today on 13th February 2023:
Today on 13th Feb 2023 SGX Nifty is showing a 44 Points LOWER move at around 7:15 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 13th Feb 2023:
S&P 500: 8.94 (+0.22%)
NASDAQ: 76.25 (-0.62%)
Dow Jones: 169.35 (+0.6%)
Nikkei: 369.79 (-1.31%)
US markets are not negative or positive to impact on Asian markets and in fact Indian markets.
So SGX Nifty is a bit negative.
4) Nifty Supports and Resistances:
Nifty Supports: 17800, 17777, 17680, 17653
Nifty Resistances: 17865, 17944, 18017, 18072
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5) Stock Market Pre Opening Session for 13th Feb 23 Conclusion:
- Look at the positive trend line, isn’t it looking greatly supportive? But today is the distracting part where the trend line may be broken.
- Since there are two Dojis formed, we may see that the market may go sporadically high or low.
- We are having a tough time defining Nifty resistance because there are ample.
- Nifty supports are ample too but seem like the up-trend line may be broken today.
- Though the 20-day Ema has been taken up slightly, Nifty is still seeing that as a resistance.
- 17777 is acting as a great support, whereas 17865 is acting as a great resistance.
All in all, today Nifty will see some NEGATIVE moves in the beginning and may scale to support levels today.
Considering the trends globally and Technical Analysis Nifty Trend Today will start NEGATIVE.
Happy Trading and Happy Money Making!