I mostly saw that the PCR is >1. I.e Bearish
But Market reacts opposite of it.
When to consider the PCR ratio is acting correctly or not.
PCR above 1.0 is Bullish. Below 1.0 is bearish.
You can see Max pain here
@haribabu just have a look in the screenshot of PCR ratio in the varsity Module.
PCR >1 is Bearish
PCR < 1 is Bullish
Now I m confused that who is right.
You have misinterpreted d content of varsity… As mentioned in it and further elaborated as … Pcr abv 1 is indicating extreme bearish feeling among (retailers) who have bought more puts thinking mkt wud go down hence mkt is bearish only for them… Being a contrarion indicator in fact they shud understand that big players r writing off those put options to them and wud take mkt higher actually…
So pcr abv 1 means that mkt will go up
OK… it’s quite tough as PCR has its twist and turns.
Thank You For precise advice.
Max Pain is Quiet Difficult due to the formulas applied in varsity Module of excel sheet.
Can anyone please simply this excel sheet with its existing formulas with pre defined one
Max Pain keeps changing and is not a fix type of indicator till very near end of expiry of the contract as knowing max pain at the beginning of the month wud just keep ur mindset in a prejudice and may mislead you in the trade.
Instead I suggest you to follow a more reliable indicator possibly leading one like supertrend or RSI etc. coupled with PCR to give u an edge in making trading decision eg. PCR > 1, RSI at 20 in hourly timeframe… think what you need to do… ? buy of course… max pain will just confuse u more (As it used to do me as well 
) All the best
Thanks for Advice.
I had pre defined system/strategy for trading.
Just Try to learn some new things but for now I will keep aside and focus on strategy/System Only.
Max pain is useful for Option Writers. For intraday traders it is of no use.
You can look at which strike maximum OI is there. Those level works as support and resistance.
This can be used for swing trading.
