Nifty range setup for 22nd July | A Retest Expecting for upmove

Overall Structure : Sideway
Index components : Bullish Neutral Correlation
FGI Sentiments : Low Risk - 76.30↑ Indian & 41↑ Global
Insider Data : Bullish Neutral, PCR: 1.33↓, IVP: 32↓, IV: 15.4↓, VIX: 16.85↑ (23/29)↓
↑Up : 16650, 16700, 16800. 16900, 17000.
↓Down : 16500, 16425, 16350, 16300, 16200.
Market Opening(*Expected): Gapdown to up
Activity : Short Buildup/Short Covering (rebalancing), Nifty may move up towards 17000-17500 by coming month.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Avail on Request.
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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)***