BankNifty Call Butterfly a good option for 25 July expiry

Bank Nifty may be attempting a breakout from a downward sloping trendline. A good low cost option to play this can be by executing a call butterfly for 25 July expiry:

Buy +1 Call 31000 Strike
Sell -2 Call 31500 Strike
Buy +1 Call 31600 Strike

Net cost 65-70 points (lot size 20)
Max profit potential on the upside 430-435 points.
Profit above 31600: 330-335 points
Max Loss 65-70 points
Reward to Risk: over 5:1

Breakeven Point for trade:31065/31070