Sell LT 1600 CALL and buy LT 1550 PUT at market price.

NIFTY is in up-move clearly. It is consolidating in narrow range. It could blast if it crosses 8360. Technically it is forming higher high for past 11 days excepting one day and this is very bullish sign. FIIs are buying continuously and DIIs are selling. This is another signature of bulls. Most of the key markets are in green. 

Some negatives:

Future is at discount.

Drought 

FED

Low volumes

So as long as NIFTY is not crossing 8360 let us go with bearish possibility.

Hold NIFTY bear spread strategy.

New Trade

Sell LT 1600 CALL and buy LT 1550 PUT at market price. Book loss if total loss in strategy is Rs. 5000/-

Disclaimer: This blog does not take any responsibility of your profit/loss