NIfty Prediction today 31st Oct

31 de out. de 2023

Nifty has been quite bullish for past 2 days after a long fall. but it seems it has a resistance to upside now as shown in the chart. It might move to the 19250 and then have some consolidation.
Reason:

1. 200 EMA Resistance (Good Resistance)
   
2. Price Action Resistance (Red Zone upside)
   
3. Price > (13,50) EMA (shows bullishness)
   
4. EMA(13,50) Crossover (Bullish)
   
5. PCR = 0.78 (Neutral)
   
6. RSI > 50 (Bullish)
   
7. RSI Bearish Divergence
   

Verdict:
Mild Bullish

Plan of action:
Observe the 15 min Candle, follow the price action.