Nifty hourly mode turn from sell to buy mode with hourly cloud support at 5410

From Daily Nifty Ichimoku cloud chart we could see that nifty candle had just above the cloud supports 5331 and holding still above the cloud. But hourly charts are still indicating a bearish picture. And Nifty open interest data of August Series shows that as of now put writers are bullish on holding 5300 level.

Most of the days in July has been ended in sideways fashion for Nifty especially between the 5EMA(High) and 5 EMA(low) line. Almost all the Out of the money calls and puts expires worthless. As there is a popular saying that “Most of the time the movement of market’s direction will cause maximum pain to maximum people”.

Nifty hourly mode today turn from buy to sell mode. As of now the hourly cloud resistance are built near 5420-5425 zone. Bearsish call writers had
successfully dominated the 5500CE in July series

Nifty maintains the hourly buy mode. Hourly clouds are still near the 5380-5390 band. Reverse longs only if the resistance band got broken on hourly basis otherwise shorts are not recommended.

Nifty maintains the hourly buy mode. Hourly clouds are still near the 5380-5390 band. Reverse longs only if the resistance band got broken on
hourly basis otherwise shorts are not recommended.

Hourly charts of Nifty had made a reversal to Buy mode after 6 days of sideways consolidation. Ichimoku Cloud Supports are now near 5386 zone

Trend remains sidewards for the past 3 days with a slow transition in trending downwards as of now the nifty still trades below the cloud resistance
zone 5400-5410.

Hourly charts of nifty shows that it had recently built the resistance cloud zone near the 5400 zone. Its recommended to be in short above 5400. Reverse the trade if nifty reverses above 5400

Nifty Hourly charts are still in uptrend with supports 5348 zone. But the 15 min charts had turned down recently with cloud resistance formed near the 5416-5427 band band. Those who are willing to short should hold the stop loss near the 5416-5427 region. Trade should be reversed if nifty surpasses the resistance band.