**educational purpose only
11/05/2022 post market analysis
I still wouldn't get comfortable buying in this market. The trend is strongly bearish and there is a very strong resistance at 16300 zone which will not be easy to break.
Secondly, the PCR is 0.12 which means that put writers are trapped and we can expect heavy profit booking at every rise.
Yes, theoretically speaking, there is a lot of short position in the market but sellers will and should dominate buyers at every rise.
11/05/2022 post market analysis
I still wouldn't get comfortable buying in this market. The trend is strongly bearish and there is a very strong resistance at 16300 zone which will not be easy to break.
Secondly, the PCR is 0.12 which means that put writers are trapped and we can expect heavy profit booking at every rise.
Yes, theoretically speaking, there is a lot of short position in the market but sellers will and should dominate buyers at every rise.