NIFTY Prediction for tomorrow | 3 June

By Taaza Facts

Published on:

NIFTY Prediction for tomorrow | 3 June

As we discussed, Nifty had a sideways structure; it was sideways the whole day.

If we look at the chart now:

The market is trading in the range while taking good resistance at 200-EMA. The market is very volatile as VIX is 24.60. the market is trading in the range 22465 – 22639. If we look at the last two candles, it is a huge volume from the support zone as well as selling from the resistance zone.

If we look at the OI data:

PCR = 0.76, which has fallen from 0.53, shows a market bullish structure. 22500 is going to be MaxPain. 23000 is very Hard resistance with heavy CE writing.

I am expecting:

Case 1 : Sideways in the range 22465 – 22639.

Case 2 : If the market breaks 22465 to the downside or if the market breaks the upside, it will be bullish.


  1. RSI < 50 shows a weak bull strength.

  2. Price < EMA(13, 50, 200), which indicates a bearish market.

  3. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish unless the market tends to form a Higher-High.

  4. PCR = 0.76 indicates neutral market behavior.

  5. Price < VWAP shows that a weak market structure can lead to a bearish market.

Verdict: Sideways in range also can break to either side.

Plan of action:

Case 1: Sideways: Sell 22450 PE & 22650 CE (Hedge it with 40/-)

Case 2: Exit the loss-making leg once it breaks the channel.

Taaza Facts

I am a multifaceted content creator with expertise in blogging, Finance, and Cryptocurrency reviews. My creative journey involves weaving captivating stories in blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

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