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Short 4800 May Put when Spot nifty trades @ 4850 SL Nifty Spot 4750 Closing basis (2 lots)
CMP : 44

Less Risk Call :

Short 4700 May Put when Spot nifty trades @ 4850 SL Nifty Spot 4750 Closing basis (4 lots)
CMP : 24

One may also initiate :

Short 4500 June Put when Spot nifty trades @ 4850 SL Nifty Spot 4750 Closing basis (2 lots)
CMP : 60

Short 4400 June Put when Spot nifty trades @ 4850 SL Nifty Spot 4750 Closing basis (4 lots)
CMP : 44

Short 4300 June Put when Spot nifty trades @ 4850 SL Nifty Spot 4750 Closing basis (8 lots)
CMP : 33

Happy Trading