Weekly Market Report 13.03.22

CHART gap down opening; attempted gap covering, closed low but in green; rejected from 38.2% retracement again
OC 16500-17000, 34000-35000
PCR bearish
FII -2283
DII 1686
FnO Data long buld up in both indices
RSI 46; 40
ADX 30; 29
Conviction bearish
Bias short covering won't happen uinless 38.2% reatecement level is taken out. Till then maintain neutral to bearish bias
TRADE delta neutral strategy; risky strategy sell 35000CE and 34000 PE.