Nifty Outlook for 30-Nov-2023 based on Option Chain data as on EOD 29-Nov-2023 for Expiry on 30-Nov-2023

Predictive Analytics - Data-driven patterns based prediction

Jai Jinendra,

Previous trading day prediction review

Nifty futures opened at 20000.70 with intraday high of 20144, intraday low of 19880.20 and closed at 20143

Nifty futures data was pointing towards 20000 and 20139. Both the targets were achieved.

BankNifty futures data was pointing towards 44700.  The high for the day was 44721.60. This target also was achieved.

Next trading day prediction (Futures). 

Nifty Outlook for 30-Nov-2023 based on Option Chain data as on EOD 29-Nov-2023 for Expiry on 30-Nov-2023

  • Nifty Data is pointing towards 20214 and 20350 (Futures).
  • Nifty spot Support 19700 and no major Resistance. 

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. Why some of the expiries miss the predicted direction?

There is not much premium left due to premium decay near expiry so market may take opposite direction of prediction. Sometimes it takes direction based on next expiry data.

5. 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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