NiFTY is range bound and won't give any major breakout or breakdown till October, 16 expiry, since only 4 trading sessions are left . Under 2 studies, 1 of which I am going to share here, the probable down targets are 8519 max to max and on the upside 8751, whichis contrary to my earlier belief of Nifty hitting 8400 levels. So Buying 8700 PE and Selling 8700 calls and holding it till expiry would be a good strategy. Eventually, option sellers will make good money in October 16 expiry.
(Only for education purpose, not a recommendation or advise)