NIFTY Prediction today 1st Nov 23

1 thg 11, 2023

NIFTY was quite Bearish yesterday as we discussed the levels and trendlines respected quite well. a short trendline is broken to downside and selling presure was more to downside, by looking of the trend yesterday nify seems bearish for this week.
Reason:

1. 200 EMA Resistance (Good Resistance) (Bearish)
   
2. Price Action Resistance (Red Zone upside) (Bearish)
   
3. Yesterday Heavy selling presure
   
4. Price < (13,50) EMA (shows bearish)
   
5. PCR = 0.75 (mild Bearish), MAX Pain = 19100
   
6. RSI > 40-60 (Sideways)
   

Verdict:
Bearish

Plan of action:
look for initially 15 min. follow the trend. Sell high levels.