Assuming that the 200 DMA @ 5134 for Nifty would hold or the strong Fibonacci 50% level of 5080 would hold. Also expecting the 5385 level as a strong resistance. A Debit Calendar Put Spread with one leg having long 1 lot June 2012 expiry 5100PE and on the other leg short 1 lot May 20112 expiry 5200PE.
