Sell

If goes below 11300 then sell CE of 12000-12100 of Sept & October and buy 12500 call ( october) for protection in case of any unforeseen events. Future can also be sold but only sell 50 % below 11300 and rest on spike towards 11500-11550 and give it protection with 11900 CE buy and 10000 PE sell ( to reduce premium outgo).

Disc : It's not an advise to buy or sell. I have limited knowledge of technical analysis.