As we have been discussing, Nifty has bullishness, but as we see the last day, 15 minutes, it has given a selling candle with high volume pressure. It might take a little rest and sideways consolidation. But OI data still shows bullishness with PCR 1.45. we can expect a more bullish move on nifty.
Reason:
Verdict:
Bullish
Plan of action:
observe 15 15-minute candles and make the bull position.
Only go for PE selling. Don't go for a bearish position or buy CE.
Reason:
- PCR 1.45 (very Bullish)
- RSI 75 shows a very bullish Momentum. (Bullish)
- 21400 and 21300 have huge PE writing that shows the market is in control of bulls.
Verdict:
Bullish
Plan of action:
observe 15 15-minute candles and make the bull position.
Only go for PE selling. Don't go for a bearish position or buy CE.
