NIFTY detailed Prediction analysis for 2nd Nov

2 thg 11, 2023

NIFTY was quite Bearish yesterday as we discussed the levels and trendlines respected quite well. A 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 = 0.68 (mild Bearish), MAX Pain = 19100
   
6. RSI < 40 (Bearish)
   

Verdict:
Bearish

Plan of action:
as its expiry it might be sideways. so play based on levels

2 thg 11, 2023

Ghi chú

Market seems to be in range of 19050 to 19150 today.