Just to reiterate - 868-888 may act as resistance zone - Minor support at 835-840 - If that is taken out then downside possibility opens up once again for sub 800 odd levels
Given the setup one may consider to go for a Bear Call Spread strategy for Feb series
Sell 880 Call option Buy 920 Call option
Profit potential of 11.6% on Margin requirement. Risk of rise up to 888 is taken care of by the strategy.
Take care & safe trading...!!!
Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be