BankNifty is trading within a range (46600 in the upper side and 46300 in the downside), so there is no scope for option buyers within this range (option sellers can deploy non-directional strategies as long as market stays within this range); they should wait for range shift for a directional trade. Traders should be conservative in their position sizes if there is a breakout in the upper side, and can be a little bit aggressive in a trade in the lower side. Option buyers should scalp within the range if there is a bearish reversal (double top) at the resistance level in 5 mins timeframe; target would be the day's low.