Short below 1140, for targets of 1068 - 1039.
If it reverses from lower range of channel, buy above 1190 for a target of 1235.
Option Open interest shows massive buildup in strike 1200 Calls and 100 Puts, a strangle can be sold at these very strikes.
This will ensure a payin of 32.5 per unit or 24375 per lot. Keep a stop Loss of Rs . 40 for this position.
This strangle will keep us in profit within a range of 1067.5 to 1232.5, this looks pretty safe for now, maximum profit will be when Titan will settle between 1100 and 1200.