Verdict:
Mild Bullish. Range Bound

Plan of Action:
SELL 20000 PE and SELL 20000 CE.
protect it unless its trading in RANGE.

As we have discussed in our last analysis nifty is trading at All-time-HIGH. So, some consolidation was requried.
Today is expiry we mostly expiry used to be sidewways momentum. We can see NIfty has Created a RANGE 19950-20100.
Today I am expecting the sideways moment.
ALL important levels are marked on chart.

Reason

  1. PCR = 1.16 (Bullish)
  2. Huge PUT writing on 20,000 level.
  3. Trading in RANGE 19950-20100.
  4. RSI Diversion, RSI is in range 40-60. Which indicates most of the time is sideways momentum.

 

Verdict:
Mild Bullish. Range Bound

Plan of Action:
SELL 20000 PE and SELL 20000 CE.
protect it unless its trading in RANGE.

Disclaimer:

The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.

Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.

The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.

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