Nifty Outlook for 27-Oct-2023 based on Option Chain data as on EOD 26-Oct-2023 for Expiry on 2-Nov-2023

Predictive Analytics - Data-driven patterns based prediction

Previous trading day prediction review

Two different parameters were showing two values in opposite direction with 18900 on lower side and 19200 on higher side. Market chose to move lower and low for the day was 18840 (futures)

Next trading day prediction

Nifty Outlook for 27-Oct-2023 based on Option Chain data as on EOD 26-Oct-2023 for Expiry on 2-Nov-2023

Nifty has fallen a lot in last few days. There is a possibility of pullback. Data is pointing towards 19150 (Futures)

Next  major support between 18750 to 18850  and Resistance at 19250 to 19350.(Spot)

Note - Global Uncertainties  could cause some disruption.  

Why sometimes system parameters provides two predictions on opposite sides?

Such scenario happens for different reasons (1) Weekly or monthly expiry has happened but complete rollover has not happened on the expiry day but operator has planned for next trading day (2) Global uncertainties, when large players want to wait for overnight developments and then decide on direction to take.  However with every trading day, market provides learning opportunity so if similar pattern happens in future, one can be prepared.

Disclaimer - This is not a investment or trading advice / recommendation. It does not look at Technical Analysis or Fundamental Analysis. It is based on quantitative approach using Predictive Analytics. The outcome could be prone to data issues or calculation issues. This post is for information purpose only.  I don't charge or offer any paid service. The higher probability percentage or ranking does not guarantee the actual outcome to be matching with that of predicted outcome. I am not SEBI registered. For more details on Probability Analysis refer the FAQ in link below https://www.marketprobabilityinsights.com/p/what-is-probability-analysis.html  
Location: India

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