NIFTY Prediction for tomorrow 10 Apr 24

NIFTY opened a gap-up and fell sharply from 22768.
If we look at the chart now:
The market is trading at the resistance zone (4H-TF). Also, the market is trading at the support trendline. If the market breaks the support to the downside, it is going to generate a quick fall till 22471. Meanwhile, 22617-22766 is a sideways zone, as marked in the chart.

If we look at the OI data:
PCR = 1.13, which shows bullishness. But yesterday's PCR was 1.34. That shows the Bull's strength is decreasing, and bears are taking hold of the market. Also, there has been a very good CE writing 22700-23000. There was not much of PE writing today. The market is getting ready for some correction.
If we look at the FII & DII data:
FII is bullish; the Client is bearish.
I am expecting a gap-up to open and then a fall.

Reasons:

1. PCR = 1.18 indicates a bullish structure. (Bullish)
   
2. The market is trading in a resistance zone. There is a high probability that the market will have some correction. (Bearish)
   
3. Price >> 200EMA and 13EMA >> 200 EMA that might lead to a correction in the market. (Bearish)
   
4. RSI is showing bullish divergence, which might force the market to be sideways. (Sideways)
   
5. Price < VWAP means the market is in the bears' favor.
   
6. RSI ~ 40-60, which indicates a market sideways structure.
   

Verdict:
SIdeways or bearish

Plan of action:
Sell 22700 CE and Sell 22600 PE (Hedge with 20/- premium)
Exit CE if it breaks the downside.