Exegesis:

dokeite hoti eirēnēn paregenomēn dounai en tē gē ‘do you think that I have come to establish peace on earth?’ For dokeō cf. on 8.18. For paraginomai on 7.4; here it expresses coming with a purpose. eirēnēn (emphatic by position) is best understood as referring to a realm of peace, and hence dounai may be rendered ‘to establish.’

ouchi, legō humin, all’ ē diamerisomon ‘no, I tell you, but rather division.’ For ouchi, a strong negation, cf. on 1.60. Here it is reinforced by the parenthetical legō humin. all’ ē (from alla ē) is here equivalent to a stronger alla.

diamerismos ‘division.’ Here it prepares the reader for the forms of the verb diamerizō which dominates vv. 52f.

Translation:

Do you think, or, ‘are you of the opinion,’ ‘do you suppose’ (for which see 2.44).

To give peace on earth, or, ‘to establish (a realm of) peace on earth’ (see Exegesis), ‘to make the earth a peaceful place,’ ‘to produce peace on earth’ (Western Highland Purepecha), ‘to cause the people on earth to be at peace (with each other).’ For peace see 1.79; the reference here is primarily to lack of strife, un-ruffled social intercourse.

No, I tell you, but. The function which the phrase I tell you has here is sometimes better expressed by emphasizing the negation, ‘No!’ (Balinese), “No indeed” (New English Bible), ‘no, not peace.’

Division, or, repeating the verb, ‘I give division/dissension,’ or in a verbal phrase, ‘I cause people to be divided (against each other),’ cf. on v. 52.

Quoted with permission from Reiling, J. and Swellengrebel, J.L. A Handbook on the Gospel of Luke. (UBS Handbook Series). New York: UBS, 1971. For this and other handbooks for translators see here . Make sure to also consult the Handbook on the Gospel of Mark for parallel or similar verses.