Nifty range setup for 17th Aug | A Retest Required

Overall Structure : Uptrend (Trend weak)
Index components : Neutral Correlation
FGI Sentiments : Greedy - 80.51↑ Indian & 57↑ Global
Insider Data : Neutral, PCR: 1.39↓, IVP: 15↑, Low IV: 13.9↓, VIX: 17.68↓ (19/25)↓
↑Up : 17850, 17930, 18000. 18050, 18100.
↓Down : 17770, 17700, 17650, 17600, 17550.
Market Opening(*Expected): Flat.
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Market is Overbought, May turn down at any level
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
(Data source23:00 IST)***