NIFTY Prediction for tomorrow 18 Dec 23

17 дек. 2023 г.

As we have been discussing, Nifty has bullishness, but as we see the last day, 15 minutes, it has given a selling candle with high volume pressure. It might take a little rest and sideways consolidation. But OI data still shows bullishness with PCR 1.45. we can expect a more bullish move on nifty.
Reason:

1. PCR 1.45 (very Bullish)
   
2. RSI 75 shows a very bullish Momentum. (Bullish)
   
3. 21400 and 21300 have huge PE writing that shows the market is in control of bulls.
   

Verdict:
Bullish

Plan of action:
observe 15 15-minute candles and make the bull position.
Only go for PE selling. Don't go for a bearish position or buy CE.