Nifty Outlook for 21-Nov-2023 based on Option Chain data as on EOD 20-Nov-2023 for Expiry on 23-Nov-2023

Predictive Analytics - Data-driven patterns based prediction

Jai Jinendra,

Previous trading day prediction review

Nifty futures opened at 19798.90 with intraday high of 19848, intraday low of 19718 and closed at 19750. 

Nifty futures data was expected to move towards 19750 and 19700. The first target was achieved, however second target missed by few points.

BankNifty futures opened at 43724.60 with intraday high of 43900, intraday low of 43559 and closed at 43720. 

BankNifty futures data was expected to move towards 43500 and 43075. The first target was missed by 59 points.

Next trading day prediction (Futures). 

Nifty Outlook for 21-Nov-2023 based on Option Chain data as on EOD 20-Nov-2023 for Expiry on 23-Nov-2023

Nifty Data is split with one parameter pointing towards 19800 and  another parameter pointing towards 19600 on lower side(futures)

Nifty spot Support 19500 and Resistance 19800. In between there are minor support and resistance. (spot)

Note - 

1, If Prediction is pointing towards high, and market opens high next day then check the risk reward else avoid such trade. Same for opposite side.

2. 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 it for next trading day (2) Global uncertainties, when large players want to wait for overnight developments and then decide on direction to take.  (3) Sideways Markets.

3. Global Uncertainties and events like US FOMC meets etc  could cause some disruption. 

4. Instead of using my predictions for trading, use it as second opinion to supplement to your own analysis. 

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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