Do you know why i am mad on Ichimoku Cloud Charts? Simply the above Nifty daily charts explains it in a very simple manner. Rules are simple Buy above the cloud and sell below the cloud and the trailing stop loss for any kind of trade is the cloud itself . Many of the readers getting confused with the color of the cloud. As I had added the colours just for the purpose of ambience look.
Nifty has broken the Past 8 trading days of consolidation between the Daily 5 EMA(High-Low) has been broken more recently this friday(9th July) and never let to fall below the 5 EMA low at any cost even below the ichmoku daily support zone 5166-5240 as shown above. Nifty is continuing its buy signal since breaking the cloud resistance 5000 on 10th June 2010.