NIFTY | RSI mild negative divergence | Sideways?

NIFTY | RSI mild negative divergence | Doesn't looks bullish not a great time to short too. Expecting some range bound this week.

Lets try Short straddle with hedge it becomes Iron Fly - 17/12/2020 Expiry - Credit Statergy - Defined and good risk reward

CMP : 13513

Sell 13500 PE @ 101
Sell 13500 CE @ 108

Buy 13300 PE @ 37
Buy 13700 CE @ 36

Premium collecting : Rs.209/-
Insurance : 73/-

Max Loss : Rs.4815/-
Max Profit : Rs.10110/-

1) No adjustment required if ready to accept this small loss of 4815/-
2) Margin required approx 62000/-
3) While exiting in between should exit from all the positions