Nifty Hourly Chart
Nifty Hourly Chart shows that nifty is trading below the hourly resistance cloud i.e below 5063 which indicates still bears are hiding inside the system.
Nifty 15 min chart
But when we look into the 15 min chart of Nifty spot it shows very short term support at 4986. At this point of time two type of trade is possible. Either short near the hourly reistance 5063 zone with minimal SL say 5080 or short on bearking the 15 min support zone which is currently near 4986 for shorter term positional nifty trades. Trading Shorts should be ignored if nifty is trading above 5063