Banknifty Prediction for today 11 july 24

As we discussed, BANKNIFTY gave a good bearish momentum with a grand bearish opening of 300 points in 5 min.
#Time Frame = 30 min
If we look at the chart now:
The market is trading in the range of 52276-52676. The market is continuously taking support at 200 EMA. Also, the 1D time frame market is receiving support at 13 EMA, which might lead the market to go bullish.

Support levels: 52032, 51610, and 200 EMA
Resistance levels: 50 EMA, 52625, and 53100

If we look at the OI data:
PCR = 0.60, which shows a bearish behavior in the market. The market can be seen as very volatile between 52032 and 52625. 52200 is maxpain. Higher levels have higher CE writing than PE writing on lower levels.
Reason:

RSI ~ 40 shows the bearish structure of the market.
Price = EMA(13, 50, 200) shows market is at make and break point. Soon, there will be good momentum on either side.
PCR = 0.60 shows that the market is bearish.
Price < VWAP shows a bearish market structure.

Verdict: Neutral

Plan of action:
The morning 15-minute direction will determine the market direction.
Once the direction is confirmed, make the position according to case 1 or case 2 as provided.