Banknifty prediction for tomorrow 27 JUN

As we discussed, BANKNIFTY opened sideways and went bearish for 1 hour. After that, it started recovering and touched 52990, almost near the given target, and fell in the last hour.
If we look at the chart now:
The market is trading at an all-time high. In the last 30 minutes, the market made correction. I am expecting some more corrections in upcoming trading sessions.
Support levels: 52393, 50 EMA, and 51830
Resistance levels: 53000 and 53500

If we look at the OI data:
PCR = 1.32, which has changed from 1.61, shows bears are making their position in the 53000 level. So, some correction can be expected here. 53000 is Max-Pain. On the lower side, 52500 has good PE writing, and on the higher level, 53500 has good CE writing. That market has a huge range to move, which might lead the market to good volatility.
I am expecting a volatile move in the range of 52393 - 53000.

Reason:

1. RSI = 60 falling and also having divergence, which might lead the market to some correction.
   
2. Price > EMA(13, 50, 200), which indicates the bull market.
   
3. PCR = 1.32, which shows the market is strongly bullish.
   
4. Price > VWAP shows a bull market structure.
   

Verdict: Sideways or Bullish

Plan of action:
Sell 52850 CE and Sell 52850 PE (Hedge it with 20/- premium)
Exit opposite position; either side of the market breaks.

코멘트:

Today market is very zig-zag better to stay away.