Nandish Shah, a senior technical and derivative analyst at HDFC Securities, has proposed two derivative strategies ahead of the April 28 expiry. The bear spread on Nifty involves buying a ₹24,100 put at ₹157 and selling a ₹24,000 put at ₹117, with a maximum profit of ₹3,900 if Nifty closes at or below ₹24,000. The maximum loss is ₹2,600 if Nifty closes above ₹24,100, and the breakeven point is ₹24,060. This strategy is supported by a 6% increase in Nifty futures' open interest and a decline in the Put Call ratio to 0.93. Conversely, the bull spread on AU Small Finance Bank involves buying a ₹1,060 call at ₹18.5 and selling a ₹1,080 call at ₹11.15. This strategy could yield a maximum profit of ₹12,650 if the stock closes at or above ₹1,080, with a maximum loss of ₹7,350 if it closes below ₹1,060. The breakeven point for this strategy is ₹1,067.35. The bullish outlook for AU Small Finance Bank is bolstered by a 1.5% increase in price and positive momentum indicators.