Nifty Bearish Outlook: Deploy Bear Put Spread to Profit from Index's Decline

The Nifty index formed a strong bearish candle on the daily timeframe, closing at 25,683, continuing a lower high-lower low sequence for the fifth consecutive session. The index remains within a steep downward-sloping channel with bears dominating bulls. Nifty is trading below the 40-day EMA at 25,955. To play on the bearish outlook, a bear put spread can be deployed in Nifty.