NIFTY prediction for tomorrow 28 May

As we discussed, Nifty has completed its 2nd wave and touched the mentioned target.
If we look at the chart now:
The market is trading in a heavy supply zone. Also, in the second half of today, the market had a huge PE windup. After this huge momentum, the market needs some consolidation to move on either side. There was a huge volume spike that shows the market is not yet ready to break 23000 levels.
All important levels have been marked at the chart.
If we look at the OI data:
PCR = 0.89, which has fallen from 1.28. shows a good PE wind-off. The market might take some consolidation in the range 22800 - 23100. 23000 is still the maximum amount of pain in the market. sufficient CE and PE are writing both sides. But CE is freshly written, which indicates bears are slowly increasing their position in the market.

I expect the market to go sideways or bearish.

Reasons:

1. RSI < 50 falling from the upside shows a good reduction in the bull's strength.
   
2. EMA(13) > Price > EMA(50, 200), which indicates an indecisive or rather sideways market.
   
3. The market is still making HH & equal low, which indicates a reduction in bull power. If it makes a lower low, the market will have a good fall.
   
4. PCR = 0.98 indicates bullishness, but this has fallen from 1.34, which shows lots of profit booking on the upside.
   
5. Price < VWAP shows that a weak market structure can lead to a bearish or sideways market.
   

Verdict: Sideways or Bearish
Plan of action: Sell 23000 CE and 22800 PE (Hedge it with 10/-)

Note: Exit CE if nifty breaks 23000 to the upside & Exit PE if it breaks 22800 to the downside. But right now, there are more chances for the market to be sideways or bearish