Nifty hourly movement is very tricky in progressing a down-trendy wave more in a sideways fashion.
Current hourly downtrend will terminate above 5276 on EOD basis. Reverse your shorts only above 5280.
Only a breakout above 5280 will test a newer high in upcoming sessions
Nifty Daily Charts
On daily charts Nifty is oscillating between the 5 EMA-High(5231) and 5 EMA(5289) low for the past 8 trading sessions creating a sideways movment in nifty. As per 5 EMA(high-low) strategy Strength will prevail only above 5289