As we discussed yesterday, NIFTY made a bearish movement after 2 pm with a nice volume.
If we look at the chart data:
Price has broken the pattern to the downside, now trading at 200 EMA. RSI has already gone below 40. Price is trading below EMA(13,50). Today, the selling volume was quite high.

If we look at the OI data:
PCR = 0.72, which shows a neutral structure because the price is at 200 EMA. 21700 is having nice PE writing, which is going to provide a nice support zone. On the upside, 21900 has significantly high CE writing, which will provide strong resistance.

I am expecting the market to fall in upcoming sessions:
Reasons:

1. The market has already given a breakout to the downside. (Bearish)
2. price < EMAs shows a bearish market structure. Currently trading at 200 EMA if breaks to downside path is clear till 21500. (Bearish)
3. RSI < 40, which shows bulls are weak right now. (Bearish)
4. price < VWAP shows a bearish sentiment in the market. (Bearish)
5. OI data shows PCR = 0.72, which shows the market has a neutral structure. A little push to the downside can ignite a strong bearish move. (Bearish)