BankNifty looking exhausted at higher levels and may retrace to its 38.2% retracement levels of 27200. Its good time to trade banknifty with a bear call spread strategy by selling 27200 ITM CE and buying OTM 28100 CE. Overall margin requirement with MTM may be around 0.8 lacs. If BNF moves upwards then hold 27200 short CE position and square off the 28100 ATM CE and additionally write ATM CE near 28100-28300 levels as part of roll up. Basis the trend and PE/PB you should get more than 5-10k profit by end of the month with an ROI of 10%.