How can I wire this ceiling light correctly?
Wiring colour conventions can vary worldwide, so as you don't state where you are located, it's not possible to give a definitive answer.

In the UK for example (for single phase wiring), convention would have the live wire as brown (new colour) or red (old colour) and the neutral wire as blue (new colour) or black (old colour). It was not uncommon to see appliances using the new colours while fixed wiring still used the old colours, until the new colour scheme was adopted for fixed wiring (around 2004).

If you are in any doubt at all, sound advice would be to contact a competent electrician to do the work for you.