Massive divergence in PCR between #Nifty (1.27 ... very bullish) and #BankNifty (0.64 ... very bearish).

On 30th Nov at 2:25pm (almost day-end), I tweeted 👆. In hindsight, let's see what the markets actually did. #Nifty (which had a PCR of 1.27... which on the fact of it, means far more puts written as compared to calls, and which, therefore should ideally mean a bullish

sentiment) is down from ~18750 (30th Nov close) to ~18500 (9th Dec close). On the other hand, BN (which had a PCR of 0.64... which on the fact of it, means far more calls written as compared to puts, and which, therefore should ideally mean a bearish sentiment) is up from ~43230

to ~43630.
Taking the above observation forward, as of now, Nifty has a PCR of 0.52 and BN has a PCR of 0.91. If a PCR > 1 last week made Nifty bearish and PCR < 1 last week made BN bullish, can we expect both Nifty and BN to be bullish next week (with both having PCR < 1)

with Nifty having a very low PCR of 0.52 and BN of 0.91?
Let's see what happens next week. Who knows, we may be able to decipher some pattern from these PCR readings...