ICICI Direct has suggested a moderate bearish approach in the Bank Nifty index in the lead up to the RBI monetary policy. They suggest buying a June 2023 Bank Nifty 44,000 put at 270-275 while simultaneously selling a June 8 43,600 put at 125-130. The net debit is set at 145 with a target of 255, and the time frame is till weekly expiry. The analysts predict consolidation near 44,000 will continue and expect the index to find support near 43,500 levels.