NIFTY Expiry Special Analysis 14 SEP 23

As we have discussed in our last analysis nifty is trading at All-time-HIGH. So, some consolidation was requried.
Today is expiry we mostly expiry used to be sidewways momentum. We can see NIfty has Created a RANGE 19950-20100.
Today I am expecting the sideways moment.
ALL important levels are marked on chart.

Reason

1. PCR = 1.16 (Bullish)
   
2. Huge PUT writing on 20,000 level.
   
3. Trading in RANGE 19950-20100.
   
4. RSI Diversion, RSI is in range 40-60. Which indicates most of the time is sideways momentum.
   

Verdict:
Mild Bullish.

Plan of Action:
SELL 20000 PE and SELL 20000 CE.
protect it unless its trading in RANGE.