NIFTY analogy for 6th/13th Oct : Corrective Move

NIFTY Pre-analysis::::::::::::
Overall Structure : Corrective move
Index components : Neutral Correlation
FGI Sentiments : Negative - 30↑ Indian & 32↑ Global
Insider Data : Neutral, PCR: 1.02↑, IVP: 15↓, IV: 18↓, VIX: 19.57↓ (29/34)↓
↑Up : 17320, 17350, 17400, 17450, 17500.
↓Down : 17200, 17160, 17120, 17070, 17030.
Market Opening(*Expected): Flat/Partial Gapup
Activity: Short Covering/Short Buildup
Conclusion: Probability of take 1st rejection at 17400 upward level.
(Data source11:00 IST)***
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
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.