On the weekly charts as per 5EMA high-Low strategy nifty is in sell mode for the past 7 weeks. And the RSI(2) and CCI(4) indicates oversold levels in Nifty Spot Weekly charts. and 5EMA Low at 5824. Nifty closing above 5824 on EOD basis will bring positive bias for the uptrend reversal.
Nifty hourly chart is in sell mode since 31st May 2013, Currently the resistance zone comes close to 5830. Overall it is better to reverse your position to long only if nifty trades above 5830.