BANKNIFTY Prediction for tomorrow 26 Jun

As we discussed, BANKNIFTY opened a side gap down and then gave a really nice bullish momentum to the upside.
If we look at the chart now:
The market has broken an all-time high and is going HH. I am expecting the market to move further upward till the 53000 as of now.
Support levels: 52000, 51255, and 50494
resistance levels: 53185 and 54163

If we look at the OI data:
PCR = 1.61, which has changed from 1.09, shows the very bullish nature of the market. Today, all CE seller exited their positions on lower levels. And new PE additions have been made on the lower side. 52500 is Max-pain. There is not a good resistance level on the higher side till 53000 right now.

I am expecting the market to move with good volatility in the range of 52000-53185.

Reason:

1. RSI = 70, showing divergence, which might lead it to a sideways market.
   
2. Price > EMA(13, 50, 200), which indicates the bull market.
   
3. PCR = 1.33, which shows the market is strongly bullish.
   
4. Price > VWAP shows a bull market structure.
   

Verdict: Sideways or Bullish

Plan of action:
Sell 53000 CE and Sell 52000 PE (Hedge it with 20/- premium CE)

Tomorrow is the expiry of trade with caution. There might be big fluctuations in the options premiums.