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Weekly Market Report 13.03.22

Nifty Bank Index (NSE:BANKNIFTY)  
daerontrading  
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Wave Analysis NIFTY BANKNIFTY
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trendanalysis chartpattern waveanalysis nifty banknifty
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.
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