NIFTY prediction analysis for 6th Nov

NSE:NIFTY   Nifty 50 Index
NIFTY is moving in the rectangle Pattern which shows the higher HIGH and higher LOW.
on Friday market opened HIGH on the price-action resistance but could not break it to upside it consolidated whole day in a small range a bad day for option buyers. if NIFTY could break the resistance to upside then it can give a potential move for buyers.
Nifty seems neutral so far.
  1. EMA 50, 200 as a nice support point. (Bullish)
  2. Price-action Resistance to upside. (Bearish)
  3. RSI <40,60> (sideways moment)
  4. likely to take support 19075
  5. PCR = 0.79 (Neutral)


Plan of action:
wait for nifty to break rectangle inside rectangle go only for selling NO OPTION BUYING.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.