hello Raghavendra,
Indeed if you set src address or dest address persistence it will work. however you can not advise someone without taking into account his intrastructure. When you set up LB for you proxy, you want to spread the load on all your nodes/bluecoat. In this cas destination address persistence will send all user request to the same node/bluecot, indead is benefit for caching (blucoat is done caching) because you send all User request to the same Proxy. but if you do not take into account the number of users and the capacity of the equipment you may have problems of load since the requests are sent to a single proxy.
The capacity of the equipment and the number of users must be taken into account in order to set the good peristence.
but as far as I'm concerned I share the load on different proxy avoiding saturated 1 and possibly provoked latencies due to the load.
Akhil_dev all all the information to determine the best for him. Let it decide depending his infrastructure.
Regards and thank you for your feedback