sell 5400 nifty put option at 95 -97 and buy 5300 nifty put option at around 60 -62 .also you can buy 5600 nifty call option from the premium earned from the other transaction .now here we r having a straight maximum 100 point risk if nifty goes below 5400 and we gain once nifty crosses 5600 otherwise no profit no loss
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