1st November, 2019 | Nifty Technical Analysis and Prediction for Tomorrow by JK

As nifty could not close above 11883, somewhere it is losing the upward strength.

Nifty Technical Analysis for 30th October 2019
A bearish hanging man candle formation has formed with a high of 11883 and a low of 11784. Whenever nifty closes below 11784 it may show further downfall will start from here.

Nifty Technical Analysis for 31st October 2019
Today Nifty opened at 11890 and made a high at 11945 where buyers booked some profit at end of the day and failed to close above yesterday’s high of 11883.
Nifty Closed at 11877 Forming a Doji/Shooting star kind of candle which seems to be telling that it does not want to go upside more as it wants to take a pause for time being before taking the next upside rally.

Nifty View for 1st November 2019
As nifty could not close above 11883, somewhere it is losing the uptrend strength.
Further moving, profit booking may continue on 1st November also. Hence, aggressive traders who want to trade intraday in nifty can go short with a stop loss of 11944.
Only when nifty sustains below 11856 for a period of 15 minutes at least then one can go with a target of 11836, 11772 and 11720.

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