Dear Santanu,
Ans 1) Hold the put if SL not hit.
Ans 2) As said earlier Will check trend only at 9:35 AM, 10:00 AM, 10:30 AM, 12:30 PM and 3:00/3:15 PM. If the trend is exact 20pts then, will wait for another 15 min. for confirmation or will buy as per our risk taking ability,
Regards