Nifty - Data shows bearishness but need to be careful for short
Data is showing bearishness with PCR at 0.5 and FIIs have shorted 40k calls and bought 58k Puts today. Inclination is to short if it opens higher or flat and goes down but Nifty is forming higher lows and RSI is also not in favour at the moment.
One needs to be extremely cautious if going short. PCR at 0.5 or below denotes extreme bearishness and can trigger short covering similar to one witnessed on Monday.
Disclaimer - This is not trade recommendation or advice. This is purely for educational purposes. Do your own research before entering into a trade.
One needs to be extremely cautious if going short. PCR at 0.5 or below denotes extreme bearishness and can trigger short covering similar to one witnessed on Monday.
Disclaimer - This is not trade recommendation or advice. This is purely for educational purposes. Do your own research before entering into a trade.
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