Valley of Kashmir is situated between

1. A

   Kangara and Dhauladhar ranges

   (a) Kangra and Dhauladhar. Those ranges frame parts of Himachal, not the Kashmir Valley.

2. B

   Pir-Panjal and Himadri ranges

   (b) Pir Panjal and Himadri. The Vale of Kashmir is a synclinal valley between the Pir Panjal (south-west) and the Great Himalaya / Himadri (north-east). That pair is the official key.

3. C

   Mahabharat and Dhauladhar ranges

   (c) Mahabharat and Dhauladhar. The Mahabharat Range is in Nepal; it does not bound Kashmir.

4. D

   Pir-Panjal and Mahabharat ranges

   (d) Pir Panjal and Mahabharat. Mahabharat is not the northern wall of Kashmir.

Summary. Official key is (b). Kashmir Valley lies between the Pir Panjal Range and the Himadri (Great Himalaya).