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NIFTY detailed Prediction analysis for 2nd Nov

119
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
Nota
Market seems to be in range of 19050 to 19150 today.

Penafian

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