nifty50
Nifty is following the trendline. So till the time nifty is following the trendline, hold your long positions. This is a very important trendline. If the trendline is broken with a strong bearish candle, expect a correction in nifty. The blue boxes in the chart are strong support zones of nifty. So these blue boxes are actually buying boxes from where nifty might show a reversal. If there is no bad news and world markets are perforimg well, then nifty will be in the green territory. My suggestion would be to not go for sell positions in nifty. Wait for the correct opportunity and then go long. Apply buy on dips startegy. PCR at the end of the day(i.e friday) was 1.401. So wait for a dip in Nifty and when the PCR is around 1, look for buying opportunities.
PCR stands for Put Call Ratio. When the PCR is around 1.5 or above, that means nifty is overbought or is in the resistance zone. So there might be a correction in nifty. And when PCR is around 1 or below 1, that means that nifty is oversold/ in the support zone and you can look for buying opportunites in nifty.
Always keep a strict stoploss. Be disciplined. Be patient.
PCR stands for Put Call Ratio. When the PCR is around 1.5 or above, that means nifty is overbought or is in the resistance zone. So there might be a correction in nifty. And when PCR is around 1 or below 1, that means that nifty is oversold/ in the support zone and you can look for buying opportunites in nifty.
Always keep a strict stoploss. Be disciplined. Be patient.
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