hello gaurav.
good to see your interest in options. let me answer your question.
btw there is no 5350 strike price... strike prices are in 100's .. like 5300, 5400, etc ...
first of all you have to remember one thing ... the farther the underlying (nifty) goes from the strike price, the option will become more or less valuable ... eg . a call goes up in value if the nifty goes higher than the strike price ... same way, a put goes up in value when the nifty goes lower ...
you can better understand if you read the basics on options ...
the price of the option is also effected by the days to expiration, volatility in the market.
i would recommend you to not trade options if your not prepared for it ... because the options loose value if the expiration day comes closer ...
coming to the second part of your question...
if you bought a 5300 Nifty contract on the day of expiration then it would cost you about 30 rs .... then when it reaches 5350 it would be worth around 50rs ..
but if you had bought the option with about a 1 month to go ... then it would cost you around 150 or so rs. and you could have sold it for about 160-165 rs ...
hmmm ... i am sure you'd be a bit confused ...
thats why, GO LEARN THE BASICS ON OPTIONS FIRST !!!
if your not really interested in learning the little basics there is .. .then you better not trade ...