TradingView
finnova_
Nov 21, 2023 6:16 PM

NIFTY sideways prediction 22 NOV  

Nifty 50 IndexNSE

Description

As we discussed yesterday, NIFTY is neutral. It was range-bound sideways with high volatility candles. Nifty seems to be mildly bullish for tomorrow. All important levels have been marked on the chart.
Reasons:
  1. RSI is 40-60 mostly sideways.
  2. 19825 will be a good resistance and and 19670 will be acting as good support.
  3. PCR = 0.89 (MIld Bullish)


Verdict:
Sideways

Plan of action:
Go with Short Straddle and cut off the leg if it breaks any side.
More