Nifty still holds the short term downtrend. Iam not able to show the ichimoku cloud charts frequently here as Iam facing difficulty with my Windows Machine where my motive wave is installed. My Laptop Screen got damaged. So facing little difficulty in accessing amibroker and motivewave every day.
If you check the open interest chart still put writers are crowded near 5200 option strike prices. Any strong break/panic from this price level could drag the nifty towards 5050. As of now put writers believe that 5200 holds for the current option series.