Nifty is in consolidation and in range of 16500 and 15700. Nifty possibly looks like gonna break downside till 15200 in my view.. there lies the strong support . So start buying call option either at 15200 or breakout above 16500 ... same way buy puts 16400 levels with stoploss above 100 points or buy puts below 15700. Target is 15200 on downside. Upside if breakout target is 17200.