Buy 9600 PE 1 lot
Sell 9500 PE 1 lot
1. Nifty failed to cross 9700 and broken immediate support zone
2. It has been closing on negative note from last four sessions
3. Fresh writing at 9600 & 9700 CE could drag the index to lower levels
4. Put unwinding in 9600 strike also suggest that bears are getting grip for a profit booking decline
5. Thus low risk / Hedge strategy Bear Put Spread is recommended
: Chandan Taparia is a Derivatives and Technical Analyst at Motilal Oswal Securities.