Verdict:
Sideways

Plan of action:
Go with Short Straddle and cut off the leg if it breaks any side.

As we discussed yesterday, NIFTY is neutral. It was range-bound sideways with high volatility candles. Nifty seems to be mildly bullish for tomorrow. All important levels have been marked on the chart.
Reasons:

  1. RSI is 40-60 mostly sideways.
  2. 19825 will be a good resistance and and 19670 will be acting as good support.
  3. PCR = 0.89 (MIld Bullish)

Verdict:
Sideways

Plan of action:
Go with Short Straddle and cut off the leg if it breaks any side.

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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