Nifty is Fifty-Fifty

S&P Nifty index has been falling for the past three sessions. Unable to make a new high the index is struggling at 4080 levels. A close below 4020 will be short term bearish and can take the index down to the 50 day moving average which is currently at 3866. Futures can be sold with a stop loss of 4200 on daily closing basis in spot nifty. Alternatively 3900 puts can be bought at 45-50 Rs. These puts have the potential to double.