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So everyone would watched the strong put writting that happened on last friday @ 5200 PE Nifty Feb Option Stricke price with highest OI buildup and would probably the strong reversal point. 5200 would be the strongest supporting point and a move above 5357 on 90 min nifty charts confirms the reversal point in nifty. But last time nifty fail to hold the 5400 point even though there is a sufficient amount of OI buildup near 5400
Nifty 90 min Charts for 14th Feb 2011 Trading
Nifty 90 min charts shows that Ichimoku cloud resistance is near 5357. Go long above that.nifty is still under short. But longs are preferable above 5357.
or short under the cloud ?
@Sandew
Yes the mode of nifty is still under short. But longs are preferable above 5357