Nifty prediction, Will Continue the Bullish trend?

7 нояб. 2023 г.

As Nifty has been continuously increasing for the past four days, it has been purely seller day. The market is consolidating in a range of 70-80 Points. We have performed Top a top-to-bottom approach where we see a trendline that is marked over the chart. Nifty seems to touch the 19550 levels by this week's expiry.
Reason:

1. Price > EMA(13,50,200) (Bullish)
   
2. Golden crossover (Bullish)
   
3. PCR = 1 (Bullish)
   
4. RSI > 60 (Bullish)
   
5. 200 EMA support downside.
   

Verdict:
Bullish

Plan of Action:
Sell PE on lower Points. Don't go for option Buying based on the last four days moment.