NIfty prediction analysis today (20-OCT)
NIfty seems bearish as we can see nifty has been in the range as shown on the chart.
Nifty will be facing a good resistance at the level 19665 and also EMA 200 will be providing resistance on uppar side. It seems bearish for this week
Reason:
Verdict:
Data shows the bearish signals or Sideways.
Plan of action:
observe 15 min candle and then once market is settled go for Selling options. option buying may not be good in such market.
Nifty will be facing a good resistance at the level 19665 and also EMA 200 will be providing resistance on uppar side. It seems bearish for this week
Reason:
- Price < EMAs(13,200)
- RSI is 40, declining shows weaknees of bulls.
- up side multiple resistance such as EMA 200, VWAP, priceaction resistance, etc.
- PCR = 0.89 (bullish) because people have shorted 19500 heavily.
Verdict:
Data shows the bearish signals or Sideways.
Plan of action:
observe 15 min candle and then once market is settled go for Selling options. option buying may not be good in such market.
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