As we discussed yesterday, NIFTY didn't go bearish. Instead, it gaped up. Once we saw the gap, the idea was updated to wait. But now NIFTY has given a trendline breakout, as can be seen on the chart. So NIFTY might be in the Bull's favor now.
Reason:
Verdict:
Bullish
Plain of action:
observe 15 min trend if its bullish then go bullish.
Reason:
- PCR = 1.16 (Strong Bullish)
- RSI Diversion it might require some consolidation of a re-test.
- Target to bull side 19800. but as its expiry tomorrow might result in sideways.
- Price > EMAs (Bullish)
- Option chain Bullish
Verdict:
Bullish
Plain of action:
observe 15 min trend if its bullish then go bullish.