NIFTY prediction analysis for 6th Nov

2023年11月5日

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.
Reasons:

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)
   

Verdict:
Neutral

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