PCR of this expiry is 0.63 which shows bank nifty is shorted heavily and it will not cross 35500 but it can go to the next 35050. So you should buy puts of 35200 naked to make the ride of the bank nifty .
Note this is only short term till 10th June. Bank nifty has to go upto 36000 which you will soon see.
Also today SGX nifty is down by 25 points so we should see a gap down opening.