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NIFTY prediction analysis for 6th Nov

NSE:NIFTY   Índice Nifty 50
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.


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